5 Stocks Crushing the Market With Surging Returns

2. Innio NV (NASDAQ:INIO)

Innio soared by 23.33 percent in its first day as a publicly-listed company, riding the strong investor optimism for energy stocks amid the continued growing demand.

In intra-day trading, Innio NV (NASDAQ:INIO) opened at $31, marking a jump of 14.8 percent from its initial public offering price of $27, climbed by as high as 27.6 percent to $34.45, before trimming gains to end the session at $33.30.

Innio NV (NASDAQ:INIO) said that the IPO consisted of 90 million secondary shares, sold for $27 apiece for a total of $2.43 billion, and will be fully received by the selling shareholder. This means that Innio NV (NASDAQ:INIO) will not receive any amount from the proceeds.

Meanwhile, the company also granted its underwriters the right to purchase up to an additional 13.5 million shares from the selling shareholder at the IPO price, for a total of $364.5 million.

Backed by Advent and ADIA, Innio NV (NASDAQ:INIO) is a global distributed energy solutions provider that commits to delivering reliable, flexible, transient, decentralized, modular, and efficient power through the design, manufacture, and service of high-performance power systems under its Jenbacher and Waukesha brands.

The company delivers power for applications including data centers, microgrids, grid stabilization, industrial energy, and gas compression.