UPDATE 1-Doncasters surges in NYSE debut as aerospace IPO wave gathers pace

DPC Holdings PLC

DPC Holdings PLC

DPC

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June 25 (Reuters) - Doncasters DPC.N shares leapt 33.3% in their New York Stock Exchange debut on Thursday, the latest in a string of buoyant aerospace and defense listings.

The Derby, United Kingdom‑based company’s shares opened at $44 apiece, compared with the offer price of $33.

Doncasters had raised $919.3 million in its IPO, selling 27.9 million shares above the marketed price range of $28 to $32 apiece.

Issuers have been accelerating IPO plans as investors turn increasingly enthusiastic about aerospace and defense supply-chain businesses, as countries ramp up defense spending following the escalation in Middle East tensions earlier this year.

The sector has seen a strong run of listings recently, including that of peer Arxis ARXS.O, whose shares surged nearly 36% in their Nasdaq debut in April.


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