Dublin-based Avolon announces more details of upcoming IPO
Company is pricing its initial offering of 13.6 million shares at $21 to $23 a share
Ray Conner, president and chief executive officer of Boeing Commercial Airplanes ( left) reacts during a news conference with Domhnal Slattery, chief executive officer of Avolon Leasing Group, on the third day of the Farnborough International Air Show earlier this year. Photographer: Matthew Lloyd/Bloomberg
Dublin-based aircraft leasing firm Avolon has announced further details of its upcoming IPO in the US.
The company, which is run by Domhnal Slattery - a veteran of former industry giant Guinness Peat Aviation, is pricing its offer of 13.6 million shares at $21 to $23 a share.
This would value the company at about $1.8 billion
Avolon is proceeding with its New York listing following the collapse of takeover talks with a number of potential buyers in Asia, including China’s Avic Capital.
It is backed by private equity firms Cinven, CVC Capital Partners and Oak Hill Capital Partners, as well as Singapore’s sovereign wealth fund.
As of the end of September, the company had an owned, managed and committed fleet of 227 aircraft serving 49 customers in 27 countries.