Loar Holdings shares soar 61% in stellar NYSE debut (updated)

Loar Holdings

25/04/2024 17:14

(Updates with background throughout)
       April 25 (Reuters) - Shares of Loar Holdings  LOAR.N 
soared nearly 61% in their debut on the New York Stock Exchange
on Thursday, giving the aerospace parts manufacturer a valuation
of nearly $4 billion.
    Private firms are looking to take advantage of the buoyant
capital markets, as initial public offerings (IPOs) bounce back
in 2024 on hopes of a soft landing for the U.S. economy.
    Loar's listing follows robust debuts of companies such as
Walmart-backed Ibotta  IBTA.N  and social media firm Reddit
 RDDT.N .
    Loar raised $308 million in its IPO by selling 11 million
shares at $28 each, above its indicated price range.
    

 (Reporting by Jaiveer Singh Shekhawat in Bengaluru; Editing by
Shilpi Majumdar)
 ((JaiveerSingh.Shekhawat@thomsonreuters.com;))