First Reserve-backed CHC Group launches IPO
CHC Group Ltd has debuted its initial public offering (IPO) of 31 million shares at a price of US$10 per share. The stock began trading Friday on the New York Stock Exchange under the ticker symbol "HELI." JP Morgan, Barclays and UBS are the lead underwriters. Headquartered in Vancouver, Canada, CHC operates heavy and medium helicopters that are used to transport crew to offshore drilling rigs and provide emergency medical services. It has been backed by U.S. private equity firm First Reserve Corp since 2008. Update: CHC expects to use the net proceeds of the IPO to repay debt and for general corporate purposes.
17 January 2014•3 mins read
