Doncasters Group IPO expected to price at top of range

Investing.com -- Doncasters Group told prospective investors it expects its US initial public offering to price at the top of the marketing range late Wednesday, Bloomberg reported on Tuesday.

The aerospace and industrial gas turbine engine parts maker filed to offer 33,333,333 shares on the New York Stock Exchange at a price range of $28 to $32 per share. At the top of the proposed price range, the company would be valued at over $3.7 billion.

The company's management team is expected to be heavily involved in allocating the shares, the report said. Investors may reportedly receive significantly fewer shares than they placed orders for.

Doncasters filed and plans to list under the name DPC Holdings Ltd. Shares are expected to begin trading on the New York Stock Exchange on Thursday under the symbol DPC.

Jefferies Financial Group Inc., Morgan Stanley, Barclays Plc and Moelis & Co. are among the banks working on the offering.

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