U.S. dollar banknotes are seen in this illustration taken March 10, 2023. REUTERS
NEW YORK – StandardAero, a U.S. aircraft maintenance services provider, priced its U.S. initial public offering above its indicated range to raise $1.44 billion, people familiar with the matter said on Tuesday.
Scottsdale, Arizona-based StandardAero, which is backed by buyout firm Carlyle (CG.O) priced its offering at $24 apiece, above its range of $20 to $23, the sources said, requesting anonymity as the discussions are confidential.
The company and some of its existing shareholders sold 60 million shares to raise $1.44 billion, the sources said, making it the biggest U.S. IPO since cold-storage warehouse operator Lineage (LINE.O), raised $4.45 billion in June.
The IPO values StandardAero at roughly $8 billion, based on about 334.5 million outstanding shares.
StandardAero, which upsized its IPO last week, and Carlyle did not immediately respond to requests for comment.
Reporting by Echo Wang in New York, Editing by Anirban Sen
