Key facts
- Doncasters raised $919.3 million in its U.S. IPO.
- The company sold 27.9 million shares at $33 per share.
- The IPO price was above the initial marketed range of $28 to $32.
- Doncasters is a nearly 250-year-old aerospace and industrial parts supplier.
- The company has invested over $170 million since 2020 in modernization and capacity expansion.
- Doncasters will trade on the NYSE under the ticker symbol 'DPC'.
Aerospace parts maker Doncasters successfully raised $919.3 million in its U.S. initial public offering, with the company set to debut on the New York Stock Exchange. The Derby, United Kingdom-based firm sold 27.9 million shares at $33 each, surpassing its initial price range of $28 to $32.
This listing represents a significant achievement for Doncasters, which has undergone a substantial turnaround since its debt restructuring over six years ago, when lenders took control. Since 2020, the company has invested over $170 million to modernize its facilities and increase production capacity. Founded in 1778, Doncasters has evolved from a file-making business into a key global supplier for the aerospace and industrial sectors.
Analysts note that Doncasters' long history provides a foundation of reliability, but its recent turnaround and revenue growth are more critical to its investment story. The company is also being highlighted as an "AI energy-demand play" due to its production of parts for industrial gas turbines, which are seeing increased demand from expanding data centers. Jefferies and Morgan Stanley served as the lead joint bookrunners for the offering.