ARRAY TECHNOLOGIES shone brightly on its Nasdaq debut on Thursday although its IPO was upsized twice to US$1.05bn and was almost entirely secondary selling by sponsor Oaktree Capital Management. As a maker of solar equipment, Array fits easily into investors' ESG buckets. Goldman Sachs, JP Morgan, Guggenheim Securities and Morgan Stanley accommodated strong investor demand by pricing 47.5m shares at US$22.00, above the US$19-$21 range marketed and an increase from the 33.75m shares launched that was revised to 45m late in the bookbuild. Array shares opened at US$29.50 before closing at US$36.45 on volume of 33.8m shares (the VWAP was US$32.04). By midday Friday they were seen at US$41.03, 86.5% above offer. "ESG has become core to most investor philosophy," said a banker involved. "Array checked a lot of the ESG boxes. When you have an ESG overlay it just adds to the demand. ESG-dedicated funds were helpful, but I would point to generalist growth investors playing a secular trend. Array is one of the only pure-play investments leveraged at utility-scale deployment of solar."
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机译：阵列技术在周四举行纳斯达克首次亮相，尽管其首次公开募股是升级至1.05亿美元的升级，但自赞助商Oaktree Capital Management几乎完全是次要销售。作为太阳能设备的制造商，阵列容易进入投资者的ESG桶。 Goldman Sachs，JP摩根，古根海姆证券和摩根斯坦利通过价格为22.00美元的价格，高于19-21美元的股价，超过19-21美元的额度增加，从预订的33.75亿美元的股票上升到45米，在预订的33.75亿美元上升。阵列股份于3,3.8亿美元汇率下开盘，价格为36.45美元（VWAP为32.04美元）。周五上午，他们以41.03美元的价格为86.5％。 “ESG已成为大多数投资者哲学的核心，”银行家参与其中。 “array检查了很多eSG框。当您有一个ESG叠加时，它只会增加需求。ESG专用资金有用，但我会指向演奏世俗趋势的通道增长投资者。阵列是唯一的纯粹之一 - 在实用规模部署太阳能的情况下杠杆的投资。“
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