Flex subsidiary Nextracker files 23.26M initial public offering

Flex Ltd. announced that its subsidiary, Nextracker, has launched the roadshow for its initial public offering of 23.26M shares of its Class A common stock. The initial public offering price is expected to be between $20.00-$23.00 per share. Nextracker has applied to list its common stock on the Nasdaq Global Select Market under the ticker symbol "NXT." J.P. Morgan, BofA Securities, Citigroup, and Barclays are acting as joint lead book-running managers for the offering. Truist Securities, HSBC, BNP PARIBAS, Mizuho, Scotiabank, and KeyBanc Capital Markets are acting as joint book-running managers for the offering. SMBC Nikko, BTIG, UniCredit, Roth Capital Partners, and Craig-Hallum will act as co-managers for the offering. PJT Partners is serving as independent financial advisor to Flex Ltd. in the offering.