Financial News: StandardAero Targets $1 Billion from Initial Public Offering
StandardAero's IPO Details
StandardAero, a leading aerospace service provider, is looking to raise $1 billion by selling 46.5 million shares at an estimated price between $20 and $23 per share. This move highlights the ongoing strength in the IPO market, particularly within the aviation sector.
Funding Usage
The proceeds from the initial public offering are primarily allocated to redeem senior notes totaling approximately $475.5 million and prepay loans nearing $462 million.
Company Overview
- StandardAero is a subsidiary of The Carlyle Group.
- It provides critical aftermarket services for defined markets, including commercial, military, and business aviation.
Financial Performance
For the quarter ending June 2024, StandardAero reported $1.35 billion in revenues, representing a growth compared to $1.16 billion from the previous year.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.