LONDON (dpa-AFX) - On Thursday, DPC Holdings Ltd. or Doncasters, an aerospace company for turbines, announced the pricing of its upsized initial price offering or IPO of its around 27.86 million ordinary shares at a public offering price of $33 per share.
The gross proceeds from the offering are expected to be approximately $919.3 million, before underwriting discounts, commissions and estimated offering expenses.
In addition, the company has provided underwriters a 30-day option to purchase an additional 4.18 million shares at the IPO price, less underwriting discounts and commissions.
The gross proceeds would be about $1.06 billion if the underwriters exercise their over-allotment option in full.
The ordinary shares are expected to begin trading on the NYSE under the ticker 'DPC' on Thursday. The offering is expected to close on June 26.
Doncasters plans to use the net proceeds from the offering, in addition to the net proceeds of $144 million from the concurrent private placements, to repay outstanding debts including repaying its shareholder PIK loan. The remainder will be used for general corporate purposes.
Jefferies and Morgan Stanley are acting as lead joint bookrunners for the offering.
Copyright(c) 2026 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2026 AFX News
