StandardAero revealed its plans for its initial public offering (IPO) on September 23, 2024.
It said it is selling 46.5 million of its common stock. "Prior to this offering, there has been no public market for our common stock," it said in a SEC filing.
The initial public offering is expected to be between $20 and $23 per share. After pricing of the offer, common stock will be traded on the New York Stock Exchange (NYSE) under the symbol 'SARO'.
StandardAero is backed by Carlyle Group and Singapore sovereign wealth fund GIC.
The company said in its prospectus certain funds and accounts managed by Blackrock, Janus Henderson Investors and Norges Bank Investment Management have separately indicated interest in purchasing up to an aggregate of $275 million in shares in its common stock at the IPO price.
The lead underwriters for the IPO are JP Morgan and Morgan Stanley. The company was underwritten by Latham & Watkins and underwriters' counsel Milbank.