Transportation
StandardAero Shares Surge After IPO Raises $1.44 Billion
- Company, investors sold 60 million shares for $24 each
- Aircraft maintenance firm’s share offering was oversubscribed
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StandardAero Inc. shares climbed 36% in the aircraft maintenance services provider’s trading debut, after the firm and some of its investors raised $1.44 billion in an initial public offering.
The company’s shares closed at $32.75 each on Wednesday in New York, giving the company a market value of nearly $11 billion, based on the outstanding shares in an earlier filing. The IPO priced at $24 per share.