19-Apr-2011 3:57 PM
Air Lease Corp lists, raises USD800m
Analysis
Air Lease Corp announced it has raised USD802.5 million through its initial public offering. The company sold 30.3 million shares, 5.3 million more than initially proposed and significantly over and above the 3.75 million overallotment option.
The shares were sold at USD26.50 per share, the middle of the proposed USD25-28 per share range. The company was founded by Steven Udvar-Hazy, co-founder of ILFC. It owns and manages a fleet of 46 aircraft and ordered 136 aircraft at last year's Farnborough Air Show.
The company will be added to the CAPA leasing stock wrap from tomorrow.
Other leasing stocks were subdued in Monday trading, with AerCap losing 2.5%.
Selected Lessors daily share price movements (% change): 18-Apr-2011
