Exclusive-Carlyle-backed StandardAero will price its IPO above ranges, sources told Reuters

By Echo Wang

NEW YORK (Reuters) – StandardAero, a U.S. aircraft maintenance provider, is set to price its U.S. initial public offering above its target range, setting it up for one of the biggest stock market debuts this year, they said people familiar with the matter. Tuesday.

Scottsdale, Ariz.-based StandardAero, which is backed by buyout firm Carlyle, is close to securing enough investor support to price its shares for sale at $24 apiece, above the $20 to $23 range, have the sources said, requesting anonymity as discussions are ongoing. confidential.

The company and some of its existing shareholders are expected to sell 60 million shares to raise $1.44 billion, the sources said, making it the biggest U.S. IPO since cold storage operator Lineage raised $4.45 billion dollars in June.

At that price, the IPO would value StandardAero at about $8 billion, based on about 334.5 million shares outstanding.

StandardAero, which raised its IPO last week, and Carlyle did not immediately respond to requests for comment.