Madison Air targets $13.2 billion valuation in US IPO
The Chicago-based firm aims to raise up to $2.23 billion by offering 82.7 million shares. It will list on the New York Stock Exchange under the symbol MAIR.
Ventilation and filtration systems provider Madison Air Solutions announced on Monday that it is targeting a valuation of up to $13.2 billion for its initial public offering in the United States. The Chicago-based company is looking to capitalize on growing demand for industrial and commercial air quality solutions as it prepares to enter the public markets. According to the company's filing, Madison Air is seeking to raise as much as $2.23 billion. The offering consists of approximately 82.7 million shares, which are expected to be priced between $25 and $27 each. This substantial capital raise highlights the scale of the company's operations and its ambitions for future growth within the filtration sector. The offering is being managed by a consortium of major financial institutions. GOLDMAN SACHS BDC INC, Barclays, JEFFERIES FINANCIAL GROUP IN, and WELLS FARGO & CO are serving as the joint lead book-running managers for the transaction. These firms will oversee the distribution and pricing of the shares as the company moves toward its listing date. Madison Air plans to list its common stock on the New York Stock Exchange. The company will trade under the ticker symbol MAIR, marking a significant milestone for the Illinois-headquartered firm as it transitions from private ownership to a publicly traded entity.
