StandardAero slips as Carlyle to slice stake in about $850 mln secondary offering

StandardAero

24/03/2025 11:57

** Shares of aircraft maintenance services co StandardAero SARO.N down 1.9% before the bell to $28.05 after secondary offering news

      ** Scottsdale, Arizona-based SARO says private equity sponsor Carlyle CG.O and Singapore's sovereign wealth fund GIC to offload 30 mln shares

          ** Carlyle to sell ~24.5 mln shares and GIC to sell the balance, per the SEC prospectus filing

          ** Offering would cut Carlyle's stake from 62.8% to 55.5%, and take GIC's stake from 14.2% to 12.5%

          ** SARO has ~334.46 mln shares outstanding for ~$9.6 bln market cap

          **

    JP Morgan, Morgan Stanley and RBC are jt lead bookrunners for the offering

      ** Earlier this month, co posted Q4 rev of $1.41 bln and projected 2025 rev of $5.8-$5.95 bln

      ** SARO shares opened at $31 in their Oct 2 debut after $1.4 bln IPO priced at $24

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))