The globe's largest commercial operator of helicopters have filed documentation with reguiators for permission to raise USD400 million in an initial public offer in the United States.
Managing the offer are JP Morgan Chase and Co, UBS AG and Barclays Plc according to a regulatory filing. The USD400 million pegged in the filing is merely a placeholder to calculae fees and may be amended later. The company, which is based out of Richmond, British Columbia, did not provide specifics as to the volume of the shares to be sold and the price per share.
The company that owns CHC, First Reserve Corp, would continue to own the majority of the voting rights after the IPO, according to the documents filed. The IPO is to be conducted and the eventual public listing would be made on the New York Stock Exchange.
Back in September 2008, First Reserve had acquired CHC. The services offerings of the company include providing assistance to oil firms in making staff changes from drilling rigs as well as provide search and rescue assistance to government agencies. For the year ending April 30, CHC was able to generate USD1.74 billion in revenues.
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