Karman Holdings valued at nearly $4 billion as shares jump in NYSE debut (updated)

Karman Holdings

13/02/2025 17:10

(Adds details and background throughout)
       Feb 13 (Reuters) - Karman Holdings  KRMN.N  was valued
at nearly $4 billion after its shares rose 36.4% in NYSE debut
on Thursday, signaling strong investor appetite for defense and
space companies when market expansion is expected under the new
Trump administration.
    The defense and space systems maker's stock opened at $30
apiece, compared with the initial public offering price of $22.
    The IPO markets are on the road to recovery following a cold
stretch spanning more than two years, as investors expect rising
corporate profits on potential deregulation and tax-cuts under
the presidency of Donald Trump.
    Karman's robust debut presents a change of pace after
lukewarm first-day performances from some high-profile listings
such as Venture Global  VG.N  and Smithfield Foods  SFD.O  in
the last few weeks.
    The Huntington Beach, California-based company — backed by
Trive Capital — and some of its existing shareholders raised
$506 million in an upsized IPO. They sold 23 million shares
above the marketed range of $18 to $20 each.

 (Reporting by Ateev Bhandari and Prakhar Srivastava in
Bengaluru; Editing by Shilpi Majumdar)
 ((Ateev.Bhandari@thomsonreuters.com;))