Carlyle-backed StandardAero's shares pop 29% in stellar market debut

StandardAero

02/10/2024 18:34

** Aviation maintenance services provider StandardAero's
 SARO.N  shares soared 29% above their initial public offering
price in co's market debut 
    ** Private equity giant Carlyle-backed  CG.O  SARO last up
~32% at $31.58; stock opened for trading at $31 vs IPO price of
$24 
    ** Co and some of its existing investors sold 60 mln shares
in the offering to raise $1.44 bln, making it the third-largest
U.S. IPO of the year 
    ** SARO, in a sign of strong investor demand, priced its
upsized IPO above its targeted range of $20 to $23 
    ** With the stock pop at debut, SARO now valued at $10.4 bln
    ** Strong market debut comes as IPO activity picks up driven
by a rally in equities and hopes of a soft landing for the
economy brings back investors after a brief summer lull 
    ** J.P. Morgan and Morgan Stanley were the lead underwriters
of SARO's offering 

 (Reporting by Manya Saini in Bengaluru)
 ((Manya.Saini@thomsonreuters.com))