(Reuters) – Aviation service provider StandardAero, backed by buyout firm Carlyle Group, said on Monday it is seeking a valuation of up to $7.5 billion in its initial public offering in the United States.
The company is targeting proceeds of up to $1.07 billion, selling 46.5 million shares priced between $20 and $23 each.
The IPO comes as the aviation sector recovers from a COVID-19 pandemic-led slump.
J.P. Morgan and Morgan Stanley are among the underwriters for the IPO. The company is looking to list on the New York Stock Exchange under the symbol “SARO.”
(Reporting by Niket Nishant in Bengaluru; Editing by Maju Samuel)
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