April 15 (Reuters) - Aerospace parts maker Arxis said on Wednesday it raised $1.13 billion in its U.S. initial public offering after pricing shares at $28 each.
The Bloomfield, Connecticut-based company sold 40.5 million shares in the upsized offering at the top-end of its indicated price range of between $25 and $28 apiece.
The listing comes as aerospace suppliers tap equity markets to fund expansion and meet rising demand from commercial aviation and defense customers, with investor appetite for industrial listings remaining strong.
Meanwhile, heightened geopolitical tensions, including conflicts in the Middle East and Ukraine, have reshaped demand for aerospace and defense equipment, as countries boost military spending and investors turn to defensible industrial names that can better withstand the effects of the conflicts.
Arxis makes electronic and mechanical components such as seals, gaskets and metallized fabrics for aerospace and defense, medical technology and specialized industrial markets.
Under buyout firm Arcline's ownership, Arxis has expanded through over 30 acquisitions since 2019, including the $1.8 billion purchase of rival Kaman in 2024.
The stock will begin trading on the Nasdaq on Thursday, under the ticker symbol "ARXS".
Goldman Sachs, Morgan Stanley and Jefferies are the lead underwriters of the offering.
Reporting by Manya Saini in Bengaluru and Natalia Bueno Rebolledo in Mexico City; Editing by Sonia Cheema
Source: Reuters