Gas generator maker ERock raises $600 million in US IPO

June 10 (Reuters) - ERock ‌raised $600 million in ​its ​U.S. initial public offering, the natural gas generator maker said late on Tuesday, becoming ‌the latest company to debut amid a busy market ⁠for new listings.

Here are some details of the IPO:

• The ‌Houston, Texas-based company sold about ‌27.9 million shares priced at $21.50 each, the mid-point of its indicated range of $20 to $23.

• ERock joins a ​host of companies that have recently taken the public market path, as momentum in the U.S. ⁠IPO market has returned with renewed investor optimism for fresh stocks.

• Elon Musk's ​SpaceX is going public this week, while AI giants Anthropic and OpenAI have already filed ​confidentially to go public in ‌New York.

• ERock, founded in 2006, provides natural gas generators to data centers, utilities, ⁠and commercial and industrial customers across nine U.S. states. A huge chunk of its revenue comes from high-growth regions such ⁠as Texas and California.

• The company, formerly called Enchanted Rock, is ​targeting to increase its annual assembly capacity to roughly 1.2 GW by the end of 2026 with the development of its ‌Hyperion facility in Houston.

• Morgan Stanley and J.P. Morgan are joint lead bookrunning managers.

• ‌ERock will begin trading on the New York Stock ⁠Exchange under the ticker "EROC", ‌later on Wednesday.

(Reporting by ​Pritam Biswas in Bengaluru; Additional reporting by Manya Saini; Editing by Joyjeet Das and Shinjini ‌Ganguli)

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