Carlyle-backed StandardAero is pricing the IPO above the range to raise $1.44 billion, sources told Reuters.

By Echo Wang

NEW YORK (Reuters) – StandardAero, a U.S. aircraft maintenance services provider, has priced its U.S. initial public offering above the range indicated to raise $1.44 billion, people familiar with the matter said on Tuesday.

Scottsdale, Ariz.-based StandardAero, which is backed by buyout firm Carlyle, priced its offer at $24 apiece, above a range of $20 to $23, the sources said, speaking on condition of anonymity because the discussions are confidential .

The company and some of its existing shareholders sold 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 in June.

The IPO values ​​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.

(This story has been amended to remove a foreign word in paragraph 1)