CHC Group Prices IPO Of 31 Mln Shares At $10/share - Quick Facts

(RTTNews) - CHC Group Ltd., the parent company of CHC Helicopter S.A., late Thursday announced that it has priced its initial public offering of 31 million of its ordinary shares at $10 per share.

The securities are scheduled to begin trading on Friday on the New York Stock Exchange under the symbol 'HELI'. The company expects to use the net proceeds to repay certain CHC Helicopter debt and for general corporate purposes.

The commercial operator of helicopters expects the offering to close on or about January 23, subject to customary closing conditions.

The underwriters will have the option to purchase up to an additional 4.65 million ordinary shares from the company at the IPO price, less underwriting discounts.

For the offering, J.P. Morgan, Barclays and UBS Investment Bank are serving as the joint book-running managers.

The co-managers are HSBC; RBC Capital Markets, Wells Fargo Securities, BNP Paribas, Standard Bank, Cormark Securities (USA) Limited, Cowen and Company, Raymond James, Simmons & Company International, and Tudor, Pickering, Holt & Co.