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The US IPO market is gaining momentum as aerospace parts maker Doncasters heads for its New York debut. The company raised $919.3 million, selling 27.9 million shares at $33 each, above the $28–$32 target range.
Doncasters, nearly 250 years old, returns to public markets after being taken private in 2006. The above-range pricing signals strong investor demand for established industrial players. Proceeds are expected to be used for debt repayment and expansion in the growing aerospace sector.
As trading begins on the NYSE, the stock's first-day performance will be closely watched. The listing comes amid generally stable central bank policy: the Bank of England held its rate at 3.75% on June 18, providing a supportive backdrop. A successful debut could also encourage other companies to pursue IPOs in the coming weeks.
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