Key facts
- Doncasters is targeting a valuation of up to $4.43 billion in its U.S. initial public offering.
- The company aims to raise up to $746.7 million by offering 23.3 million shares.
- The shares are priced between $28 and $32 apiece.
- Doncasters will list on the New York Stock Exchange under the symbol "DPC".
- The company completed a debt restructuring in 2020 and has since doubled its revenue.
- Existing shareholders will buy approximately $66 million of shares in a concurrent private placement.
Doncasters, a global aerospace and industrial parts supplier, is targeting a valuation of up to $4.43 billion for its initial public offering in the United States. The company aims to raise approximately $746.7 million by offering 23.3 million shares, with a price range set between $28 and $32 per share.
This listing marks a significant step in the turnaround of the nearly 250-year-old company, which underwent a debt restructuring in 2020. Since then, Doncasters has more than doubled its revenue through investments exceeding $170 million in capacity expansion and facility modernization. The company produces a wide array of complex parts for aerospace engines and industrial gas turbines, supplying components for aircraft manufacturers like Boeing and Airbus.
Doncasters will join other aerospace parts makers such as Arxis and Applied Aerospace & Defense in going public in New York. Certain existing shareholders are expected to purchase about $66 million of Doncasters shares through a concurrent private placement. Jefferies and Morgan Stanley are serving as the lead joint bookrunners for the offering. The company is set to be listed on the New York Stock Exchange under the ticker symbol "DPC".