StandardAero drops after $1.6 bln secondary offering by Carlyle, GIC

Aircraft maintenance firm StandardAero SARO.N shares down 5.6% at $31.25 before the bell after $1.55 bln secondary offering priced

Scottsdale, Arizona-based SARO late Tues announced 50 mln shares offloaded by private equity firm Carlyle CG.O and Singapore's sovereign wealth fund GIC at $31

Offering price represents 6.4% discount to last sale

In addition, SARO to repurchase $50 mln of stock from a selling shareholder in concurrent private placement

Prior to the offering, Carlyle owned ~152.7 mln shares for 45.6% stake, and GIC held ~34.5 mln shares, or 10.3% of SARO's ~334.5 mln shares outstanding, per the prospectus

Morgan Stanley, JP Morgan and RBC, BofA, Jefferies and UBS joint lead bookrunners

Through Tues close, SARO shares up ~15% to begin 2026

Co went public in Oct 2024 IPO priced at $24

8 of 11 analysts rate the stock "strong buy" or "buy", 3 "hold"; median PT $37, per latest LSEG data