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Leonardo Postpones Public Offering For U.S. Business DRS

Leonardo Postpones Public Offering For U.S. Business DRS
Leonardo DRS’ MFoCS II

Citing “adverse market conditions,” Italian aerospace and defense contractor Leonardo on Wednesday postponed plans to take its U.S.-based Leonardo DRS subsidiary public, just more than a week after announcing it was going to allow investors to take a minority stake in the U.S. business. Leonardo said there was investor interest in Leonardo DRS in the $20 to $22 per share price range being advertised for the initial public offering (IPO) but added “adverse market conditions did not allow an adequate…

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