Leonardo files for DRS NYSE listing, to be completed by end-March By Reuters

February 26, 2021 admin Stock News 0

© Reuters. Leonardo’s CEO Profumo is seen on a screen at the headquarters in Vergiate

MILAN (Reuters) – Italy’s Leonardo on Friday filed for the initial public offering (IPO) of its DRS unit on the New York Stock Exchange, the aerospace and defence group said, adding it aimed to complete the listing by the end of March.

The state-controlled group will maintain the majority of DRS to keep exposure to the U.S. market, its Chief Executive Alessandro Profumo said in a statement.

Goldman Sachs & Co (NYSE:). LLC, BofA Securities, and J.P. Morgan will act as lead book-running managers and Barclays (LON:), Citigroup (NYSE:), Credit Suisse (SIX:), and Morgan Stanley (NYSE:) will act as book-running managers for the proposed offering. Mediobanca (OTC:) is acting as financial advisor for Leonardo.

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