April 9 (Reuters) – Private equity-backed drone maker AEVEX said on Thursday it was targeting a valuation of up to $2.35 billion in its U.S initial public offering, the latest defense firm looking to capitalize on investor appetite.
The Solana Beach, California-based company, backed by buyout firm Madison Dearborn Partners, is seeking up to $336 million in its IPO in the United States.
A growing number of defense-linked companies have sought to tap the new listings markets in recent weeks as issuers look to seize on the opportunity created by the ongoing U.S.-Israeli war on Iran.
Aerospace parts maker Arxis also kicked off its U.S. IPO roadshow on Wednesday.
Goldman Sachs, BofA Securities, and Jefferies are the lead underwriters for AEVEX’s offering. The company will list on the New York Stock Exchange under the symbol “AVEX”.
(Reporting by Arasu Kannagi Basil in Bengaluru; Editing by Maju Samuel)
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