Aevex IPO expected to price in upper half of range

Investing.com -- Drone maker Aevex Inc. is guiding investors to expect its initial public offering to price in the upper half of the marketed range of $18 to $21, Bloomberg reported Thursday.

The offering is multiple times oversubscribed with demand from one-on-one meetings with investors, according to people familiar with the matter who asked not to be identified because the information is private.

The offering is seeing sizable long-only investor demand and is on track to price later Thursday, the people said.

Shares are expected to trade on the New York Stock Exchange under the symbol AVEX.

Goldman Sachs Group Inc., Bank of America Corp., Jefferies Financial Group Inc., JPMorgan Chase & Co., Royal Bank of Canada and Baird are among the banks working on the offering.

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