Centuri Up 10% After Raising $315 Million in IPO, Icahn Deal (2)

Centuri Holdings Inc. shares climbed 10% in the first trading day following the company’s initial public offering and concurrent private placement, which priced at the top of a marketed range.

Shares in the infrastructure services business of power company Southwest Gas Holdings Inc. closed at $23.13 each on Thursday in New York, after a deal priced at $21 per share to raise about $314.8 million in total.

Centuri sold 12.4 million shares on Wednesday, according to a statement. Investment funds backed by billionaire activist Carl Icahn agreed to purchase about 2.6 million shares in a concurrent private placement.

The ...