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Leonardo Postpones Public Offering For U.S. Business DRS

Cal Biesecker By
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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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