StandardAero priced its initial public offering of 60 million shares at a price of $24 per share on October 1, 2024. The company had initially targeted around $20-23 per share on an offering of 46.5 million shares.
The shares include around 53.25 million shares are to be issued and sold by StandardAero and 6.75 million shares to be sold by existing stockholders.
The company began trading on the New York Stock Exchange (NYSE) under the 'SARO' symbol on October 2, 2024, with the offering expected to close on October 3, 2024.
Shares opened at $31 per share and closed at $32.75 per share. It had a high of $33.01 per share.
J.P. Morgan, Morgan Stanley, BofA Securities, UBS Investment Bank, Jefferies and RBC Capital Markets are acting as lead bookrunners for the proposed offering.
Carlyle, CIBC Capital Markets, HSBC Securities (USA), Mizuho Securities USA, Societe Generale and Wolfe | Nomura Alliance are acting as joint bookrunners managers. Citizens JMP Securities, Macquarie Capital, Santander, AmeriVet Securities, and Drexel Hamilton are acting as co-managers for the offering.