ILFC begins IPO process
ILFC Holdings, a wholly owned subsidiary of American International Group, filed (02-Sep-2011) a registration statement with the US Securities and Exchange Commission for a proposed initial public offering. The offering will consist of shares of ILFC Holdings’ common stock to be sold by AIG Capital Corporation. The number of shares to be offered, price range and timing for the proposed offering have not yet been determined. Prior to the consummation of the IPO, and subject to certain conditions, International Lease Finance Corporation (ILFC) will become a direct subsidiary of ILFC Holdings. ILFC Holdings was formed solely for the purpose of the proposed offering. Citigroup, JP Morgan and Morgan Stanley are acting as the joint global coordinators of the offering.
AIG reportedly plans to sell more than 20% of ILFC via the IPO and stated it expects to dispose of at least 80% of the leasing company within three years of the IPO, according to a Seattle Times report. [more - original PR]