Here’s how Leonardo flies on the stock market after the launch of the IPO Drs
On March 15, the former Finmeccanica announced that the US subsidiary Leonardo US Holding launched the initial public offering for a minority stake in Leonardo DRS ordinary shares. All the details with the reflections on the stock exchange
Leonardo runs on the stock market, after the announcement of the price range for the listing in the United States of the subsidiary Drs.
The stock of the Italian group ended the session with a jump of 4.17% to 7.74 euros on the levels of a year ago.
Investors are offered 22% of the share capital of Drs which could rise to 25.3% if the greenshoe is fully exercised. For Leonardo, at the maximum price of the price range for the IPO of Drs, equal to 22 dollars per share, a collection of up to 638 million without the over-allotment option and 807 million dollars with the greenshoe is expected.
At this price, the entire DRS is valued at almost 3 billion dollars.
Today the former Finmeccanica announced that the US subsidiary Leonardo US Holding, Inc. has launched the initial public offering for a minority stake in ordinary shares of Leonardo DRS Inc.
The initial public offering consists of 31,900,000 Drs common stock in a price range of $ 20.00 to $ 22.00 per share. The company aims to raise up to $ 700 million.
DETAILS OF THE OPERATION
The shares will be offered and sold by Leonardo US Holding. Drs will not receive any proceeds from the offer. Drs plans to list the ordinary shares on the New York Stock Exchange under the symbol "DRS".
Leonardo US Holding also intends to grant subscribers a 30-day option to purchase up to an additional 4,785,000 ordinary shares at the public offering price and net of any applicable subscription discounts and commissions.
Following the completion of the offer, Leonardo US Holding is expected to hold 78.0% of the issued and outstanding ordinary shares of DRS (approximately 74.7% if the option to purchase additional shares is fully exercised by the subscribers ).
EXPECTED CAPITALIZATION
Halfway through the proposed range, Leonardo Drs would have a market value of 3.0 billion dollars.
THE STOCK EXCHANGE PLACEMENT
Goldman Sachs & Co. LLC., BofA Securities, Inc. and JP Morgan Securities LLC will act as lead book-running managers and Barclays, Citigroup, Credit Suisse, and Morgan Stanley will act as book-running managers of the offering and Credit Agricole, IMI-Intesa Sanpaolo, MUFG and UniCredit Capital Markets will act as co-book-running manager of the offer.
Mediobanca acts as financial advisor for Leonardo SpA
THE DEEPENING OF START:
NOT ONLY DRS, WHAT LEONARDO WILL DO ACCORDING TO PERFUME
WHY I SHARE LEONARDO'S MANEUVER ON DRS. CAMPORINI'S ANALYSIS
HERE ARE THE ACCOUNTS OF DRS (AND WHAT LEONARDO WILL DO WITH THE LISTING)
WHAT LEONARDO WILL DO WITH AMERICA DRS
WHAT LEONARDO HAS IN MIND ABOUT THE AMERICAN DRS
THIS IS HOW LEONARDO DRS GOES (AND BUSINESS BANKS GAS GAS FOR THE IPO)
This is a machine translation from Italian language of a post published on Start Magazine at the URL https://www.startmag.it/innovazione/come-va-leonardo-in-borsa-dopo-il-lancio-dellipo-drs/ on Mon, 15 Mar 2021 14:52:07 +0000.