Solar Energy Firm Nextracker Seeks Up to $535 Million in US IPO

Solar energy technology provider Nextracker Inc. is seeking to raise as much as $535 million in what could be one of the first major US initial public offerings of the year.

The company said in a filing Wednesday with the US Securities and Exchange Commission that it planned to sell more than 23 million shares for $20 to $23 each.

Nextracker’s backers include TPG, which bought a minority stake in it last year, according to the filing. Nextracker parent Flex Ltd. will continue to control the company after the IPO, according to the filing.

Based in Fremont, California, Nextracker ...