Fervo Energy Eyes $7.4 Billion Valuation in Upsized US IPO

Bill Gates-Backed Fervo Energy Boosts IPO Target to $1.8 Billion

Fervo Energy Co., a geothermal energy developer, is seeking to raise as much as $1.82 billion in a US initial public offering, raising its target from $1.33 billion.

Fervo Energy eyes $7.4 billion valuation in upsized US IPO

May 11 (Reuters) – Geothermal power developer Fervo Energy said on Monday it was targeting up to a $7.37 billion valuation in its U.S. upsized initial public offering, underscoring strong ​investor interest for the listing. The Houston, Texas-based geothermal company ‌is now seeking up to $1.82 billion in its IPO by offering 70 million shares priced between $25 and $26 apiece. It was earlier seeking a valuation of $6.5 billion, offering 55.6 mil…