Feb 8 (Reuters) - Shares of solar-tracking business Nextracker Inc soared 26% in their U.S. market debut on Thursday, suggesting that the IPO market was showing signs of emerging from a prolonged freeze.
"It's yet another sign that the 2023 IPO market is thawing.
So it's a breath of fresh air," said Matthew Kennedy, senior IPO market strategist at Renaissance Capital.
Nextracker raised $638 million from 26.6 million shares in its IPO on Wednesday, higher than its original plan of $534.9 million.
Founded in 2013 by Chief Executive Officer Dan Shugar, Nextracker provides solar tracker and software solutions for solar power plants.