Blackstone-Backed Legence Stock Makes A Weak Nasdaq Debut

The Blackstone-backed engineering and maintenance services provider raised $728 million through the IPO, with 26 million shares on offer.

Legence Corp.’s (LGN) shares made a weak debut on Nasdaq on Friday, with the company’s shares listing at $27 apiece.

At the time of writing, Legence’s shares were hovering at $27.16 or 3% lower compared to the issue price of $28.

The Blackstone Inc.-backed (BX) engineering and maintenance services provider raised $728 million through the initial public offering (IPO), with 26 million shares on offer.

Blackstone acquired Legence in 2020, then named Therma Holdings, from private equity firm Gemspring Capital.

Get updates to this developing story <directly on Stocktwits<.<

For updates and corrections, email newsroom[at]stocktwits[dot]com.<