Building systems service provider Legence (LGN.US) sets IPO price at $25-29 per share, plans to raise $702 million

According to Jinse Finance, Legence (LGN.US), headquartered in San Jose, California, announced its IPO terms on Tuesday. The company plans to issue 26 million shares with an offering price range set between $25 and $29, expecting to raise up to $702 million. Based on the midpoint price of $27, the company's market capitalization will reach $2.7 billion. This engineering company, which focuses on providing mission-critical system services for high-tech buildings, plans to list on Nasdaq under the ticker symbol LGN.

Founded in 1963, Legence's core business covers the design, manufacturing, installation, and maintenance of complex building systems, with services including HVAC, process piping, and mechanical and electrical systems. The company focuses on high-growth sectors such as technology, life sciences, healthcare, and education, with over 60% of its client base being constituents of the Nasdaq 100 Index. Financial data shows that for the 12 months ended June 30, 2025, Legence achieved revenue of $2.2 billion.

This IPO is jointly managed by Goldman Sachs, Jefferies, BofA Securities, Barclays, Morgan Stanley, RBC Capital Markets, Société Générale, BMO Capital Markets, Cantor Fitzgerald, Guggenheim Securities, WR Securities, Nomura Securities, Mitsubishi UFJ Securities USA, Roth Capital, Santander Bank, Stifel, TD Cowen, BTIG, and Rothschild.

According to the schedule, pricing is expected to be determined during the week of September 8, 2025. With its professional service capabilities in the high-tech construction sector, Legence is poised to become another industry-representative engineering services target in the US stock market.