UPDATE 1-Applied Aerospace & Defense valued at $3.5 billion as shares rise in NYSE debut

Applied Aerospace & Defense, Inc.

Applied Aerospace & Defense, Inc.

AADX

0.00

Adds details throughout

June 3 (Reuters) - Shares of Applied Aerospace & Defense AADX.N rose 3.8% in their New York Stock Exchange debut on Wednesday, valuing the firm at $3.54 billion.

The Huntsville, Alabama-based space and defense hardware provider's stock opened at $20.75 apiece, compared with the offer price of $20. Applied sold 32.5 million shares within the marketed range of $18 and $21 ​apiece to raise $650 million.

The IPO market has regained momentum in the past two months after a brief lull in March, with several big issuers, including Honeywell's quantum computing firm Quantinuum and gas engine manufacturer Innio, set to hit the ​market this week.

The U.S.-Israeli war against Iran has also fueled a wave of defense and aerospace ​listings in recent ⁠weeks.


This page is machine-translated. Sahm tries to improve but does not guarantee the accuracy and reliability of the translation, and will not be liable for any loss or damage caused by any inaccuracy or omission of the translation. *Disclaimer: The above content only represents the author's personal position and opinion and does not represent any position of Sahm Capital Financial Company and Sahm cannot confirm the authenticity, accuracy, and originality of the above content. Investors should consider the risks of investment products in light of their circumstances before making any investment decisions. When necessary, please consult a professional investment advisor. Sahm does not provide any investment advice, nor does it make any commitments and guarantees.