ERock, which makes natural gas generators for critical facilities, is targeting a valuation of up to $5 billion in its IPO in the United States, as it looks to tap surging investor enthusiasm for companies benefiting from the AI boom. Morgan Stanley and J.P. Morgan are joint lead bookrunning managers. ERock will list New York Stock Exchange under the symbol "EROC".
The Houston, Texas-based company is seeking to raise up to $641.9 million by offering 27.9 million shares priced between $20 and $23 apiece, it said in a regulatory filing on Monday.
