Ingram Micro to Make NYSE Debut Today

Ingram Micro Inc.’s long-delayed but hotly anticipated public stock offering was priced Thursday at $18 a share as the world’s largest computer products distributor prepared for its trading debut today on the New York Stock Exchange. The Santa Ana-based company, which has experienced months of turmoil, including the hasty departure this year of its longtime chief executive, stands to collect about $360 million from the stock sale, minus underwriting fees. The money will help pay off debts and finance expansion. Analysts said the extra cash will merely strengthen a company that already out-muscles the competition. Ingram takes the products made by others and delivers them to resellers and retailers in about 120 countries, and it is the leading distributor for Microsoft Corp. Estimated sales for this year top $10 billion. Analysts say Ingram Micro is a rarity among the recent technology-related stock offerings: It’s a known quantity in a competitive and mature industry that prizes performance, not potential. It thus has little in common with the cutting-edge software and Internet companies whose stock offerings have captured headlines in the last few years.