ITG reveals revenue rise in US IPO filing as listings market heat up

June 5 (Reuters) - Digital infrastructure services ‌startup ITG ​reported a ​rise in quarterly and annual revenue in its filing to go public in the U.S. on Friday, as a host of ‌companies line up to tap the public markets.

A rebound in activity ⁠in the U.S. initial public offering market has made boardrooms eager to list their shares ‌in the public markets, with ‌Elon Musk's SpaceX set to debut on Nasdaq next week.

AI giant Anthropic has also filed confidentially to list its shares in New York.

ITG is ​an infrastructure services company that provides support to U.S. digital and utility sectors and focuses on the design, construction and maintenance of broadband networks.

Led ⁠by industry veterans, the company operates across 49 states, giving it a nationwide footprint.

The company operates through ​two lines — engineering and maintenance and infrastructure deployment.

It operates in a high-growth sector buoyed by the U.S. government's Broadband Equity, Access ​and Deployment (BEAD) program, as well as surging ‌demand for AI-ready data center infrastructure.

The BEAD program is a $42.45 billion federal initiative expanding high-speed internet to unserved U.S. areas.

AT&T ⁠will spend more than $250 billion over five years in the U.S. to expand its network infrastructure and will hire thousands of technicians this year, the company said earlier ⁠in the year.

ITG reported revenue of $333.9 million for the three months ended March 31, 2026, ​compared with $225.4 million in the year-ago period. Annual revenue also showed a nearly 16% surge for the year ended in 2025.

ITG will contribute offering proceeds to ITG Intermediate, which ‌will use the funds to purchase LLC interests from the parent company.

The funds will also be used to repay outstanding ‌revolving credit and term loan debt, while supporting general growth.

Morgan Stanley, Citigroup, UBS Investment ⁠Bank and Stifel are among ‌the lead bookrunning managers ​for the offering. ITG intends to go public on Nasdaq under the ticker symbol "ITG".

(Reporting by Pritam Biswas in Bengaluru; Editing by ‌Shreya Biswas)

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