Applied Aerospace & Defense is targeting a valuation of up to $3.59bn in its planned US initial public offering, as investor appetite for defence-related assets continues to strengthen amid rising geopolitical tensions, according to a report by Reuters.
The Alabama-based company said it plans to raise up to $682.5m through the offering of 32.5 million shares priced between $18 and $21 each. The company intends to list on the New York Stock Exchange under the ticker “AADX”. Morgan Stanley and...
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