Leonardo DRS IPO application of about $ 2 billion

Ella Jones, Deputy Editor In Chief

Leonardo DRS, a defense product and technology provider being spun out of Leonardo, filed on Friday with the SEC to raise up to $100 million in an initial public offering. However, this is likely a placeholder for a deal we estimate could raise up to $2.0 billion.

Acquired by Italian aerospace company Leonardo in 2008, Leonardo DRS is a leading provider of defense products and technologies that are used across land, air, sea, space, and cyber domains. Its defense systems and solutions are offered to all branches of the US military, major aerospace and defense prime contractors, government intelligence agencies, and international military customers for deployment on a wide range of military platforms. The company's portfolio includes internally developed proprietary intellectual property and offerings, allowing it to serve as either prime contractor or a sub-contractor on key contracts.

The offering is expected to contain secondary shares only, and the parent is reportedly considering selling 40% of its stake on the IPO.

by Ella Jones | Linkedin