Aerospace parts manufacturer Loar Holdings aims up to $2.28 billion valuation in US IPO

By Thomson Reuters Apr 17, 2024 | 5:45 AM

(Reuters) – Loar Holdings is aiming for a valuation of up to $2.28 billion in its initial public offering in the United States, the aerospace parts manufacturer said in a filing on Wednesday.

Loar said it was targeting to raise up to $286 million by offering 11 million shares at a price range of $24 and $26 apiece.

The New York-based company joins the list of new entrants looking to take advantage of the buoyant capital markets that is rebounding after a two-year dry spell.

Loar will list its shares on the New York Stock Exchange under the symbol “LOAR”.

Jefferies, Morgan Stanley and Citigroup are among the underwriters for the offering.

(Reporting by Jaiveer Singh Shekhawat in Bengaluru; Editing by Vijay Kishore)