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Deal Analysis: ALC IPO highlights industry’s capital needs
21 April 2011
Air Lease Corporation’s president speaks to Airfinance Journal about the company’s initial public offering and what it means for the industry.
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Air Lease Corporation (ALC)
initial public offering
New York Stock Exchange (NYSE)
John Plueger
Steven Udvar-Hazy
John Plueger, president and chief operating officer, Air Lease Corporation (ALC), is on his way to the airport after joining Steven Udvar-Hazy, CEO, ALC on the podium to ring opening bell at the New York Stock Exchange (NYSE) the day after closing the company’s initial public offering.
The newly established aircraft leasing company is expected to raise about $868 million in net proceeds after underwriters exercised an over-allotment option to purchase an additional 4,542,450 shares during the lessor’s initial public offering.
The company’s 34.8 million Class A common stock began trading on the NYSE on Tuesday and priced at $26.50. Shares were up today trading at $28.50 in the morning.
Industry boostSuccessfully completing the IPO not only helps ALC fund its 153 aircraft on order, but many hope that it will bring attention to the aircraft leasing sector as a potential investment....
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