Applied Aerospace & Defense Said to Raise $650 Million in US IPO
Not every IPO arrives at the right moment. This one did. Applied Aerospace and Defense, a private equity-backed government contractor, has raised $650 million in its United States initial public offering, pricing shares at $20 each. The company will list on the New York Stock Exchange under the ticker symbol AADX. For a sector that once struggled to compete with the glamour of technology listings, the reception this offering received says a great deal about where investor priorities now sit.
