DPC Holdings Limited (“Doncasters” or the “Company”) today announced that it has launched the roadshow for its proposed initial public offering of 23,333,333 ordinary shares. In addition, Doncasters intends to grant the underwriters a 30-day option to purchase an additional 3,499,999 ordinary shares at the initial public offering price, less underwriting discounts and commissions. The initial public offering price is expected to be between $28.00 and $32.00 per share.
Doncasters intends to use its net proceeds from this offering to, among other uses, repay outstanding indebtedness including repaying our shareholder PIK loan, and the remainder for general corporate purposes including funding working capital, future growth projects and amounts due under our cash-based management incentive plan.
Doncasters has applied to list its ordinary shares on the New York Stock Exchange under the ticker symbol “DPC.”
Jefferies and Morgan Stanley are acting as lead joint bookrunners for the proposed offering. Barclays and Moelis are acting as joint bookrunners. RBC Capital Markets and Rothschild & Co are acting as additional bookrunners.
The proposed offering is being made only by means of a prospectus. Copies of the preliminary prospectus related to this proposed offering may be obtained for free by visiting EDGAR on the SEC’s website at www.sec.gov. Alternatively, copies of the preliminary prospectus may be obtained from: Jefferies LLC, Attn: Equity Syndicate Prospectus Department, 520 Madison Avenue, New York, New York 10022, by telephone at (877) 821-7388 or by email at Prospectus_Department@Jefferies.com; or Morgan Stanley & Co. LLC, Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014.
A registration statement on Form S-1 relating to these securities has been filed with the U.S. Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Any offers, solicitations or offers to buy, or any sales of securities will be made in accordance with the registration requirements of the Securities Act of 1933, as amended. The proposed offering is subject to market conditions, and there can be no assurance as to whether or when the proposed offering may be completed, or as to the actual size or terms of the proposed offering.
About Doncasters
Doncasters is a leading independent manufacturer of complex, highly engineered precision cast components and nickel‑ and cobalt-based superalloys primarily serving the high growth Aerospace and IGT end markets. We primarily manufacture products that operate across some of the most in-demand aeroengine and gas turbine platforms, and through decades of operations, we have developed deep engineering expertise, technical know-how, and a collaborative, customer-centric culture that provides solutions to our OEM customers’ most complex casting challenges. The Company operates 14 advanced manufacturing facilities across North America, Europe, the United Kingdom and Asia, serving a broad blue-chip client base worldwide and maintaining a leading position in specialist manufacturing and casting of superalloys.
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