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Investing.com -- Madison Air Solutions Corp. is guiding investors it expects to price its initial public offering at the top end or above the marketed range, Bloomberg reported Wednesday citing people familiar with the offering.
The ventilation and filtration systems firm’s IPO is multiple times oversubscribed with sizable orders from long-only investors, according to the report. The offering is said to be on track to price later Wednesday.
Madison Air Solutions is offering 82.7 million shares for $25 to $27 each. More than 300 investors are reportedly placing orders for shares.
Shares are expected to trade on the New York Stock Exchange under the symbol "MAIR."
Goldman Sachs Group Inc., Barclays Plc, Jefferies Financial Group Inc. and Wells Fargo & Co. are among the banks working on the offering.
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