** Shares of aircraft maintenance services co StandardAero SARO.N down 1.9% before the bell to $28.05 after secondary offering news
** Scottsdale, Arizona-based SARO says private equity sponsor Carlyle CG.O and Singapore's sovereign wealth fund GIC to offload 30 mln shares
** Carlyle to sell ~24.5 mln shares and GIC to sell the balance, per the SEC prospectus filing
** Offering would cut Carlyle's stake from 62.8% to 55.5%, and take GIC's stake from 14.2% to 12.5%
** SARO has ~334.46 mln shares outstanding for ~$9.6 bln market cap
** JP Morgan, Morgan Stanley and RBC are jt lead bookrunners for the offering
** Earlier this month, co posted Q4 rev of $1.41 bln and projected 2025 rev of $5.8-$5.95 bln
** SARO shares opened at $31 in their Oct 2 debut after $1.4 bln IPO priced at $24
(Lance Tupper is a Reuters market analyst. The views expressed are his own)
((lance.tupper@tr.com 1-646-279-6380))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.