Doncasters IPO sees demand for 30 times available shares

Investing.com -- Doncasters Group has received orders for more than 30 times the available shares in its U.S. initial public offering, Bloomberg reported Wednesday.

The aerospace and industrial gas turbine engine parts maker is telling prospective investors it expects to price $1 or $2 above the marketing range, according to the report. The company was guiding pricing at the top of the $28 to $32 range on Tuesday.

Investors may receive significantly fewer shares than they placed orders for, the report said.

Doncasters 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 has 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 NYSE:DPC.

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

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