Dublin-headquartered aircraft leasing company Avolon has announced details of its IPO on the New York Stock Exchange.
Avolon will offer 13,636,363 common shares, with an expected offering price of between $21 and $23 per share, which would result in a total offering size of between $286m and $314m, giving the company a valuation of approximately $1.8 billion.
The company said all of the common shares are being offered by the selling shareholders, and that the shareholders have granted the underwriters an option to purchase up to 2,045,455 additional common shares to cover any over-allotments.
Avolon will not receive any of the proceeds from the offering. The company is backed by private equity firms Cinven, CVC Capital Partners and Oak Hill Capital Partners, as well as Singapore's sovereign wealth fund.
Headquartered in Ireland, as of September 20 Avolon had a fleet of 227 aircraft serving 49 customers in 27 countries. It has offices in China, Dubai, Singapore and the US.
Avolon's customers include Ryanair, American Airlines, Air France KLM and India's IndiGo.
The company is run by Dómhnal Slattery, a veteran of former industry giant Guinness Peat Aviation, which was broken up in the early 1990s after a failed IPO.
