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CHC IPO Statement

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CHC IPO Statement

Old 6th Jan 2014, 12:02
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CHC IPO Statement

Is this the start of the offload by First Reserve .


CHC Group Ltd. Commences Initial Public Offering of Its Ordinary Shares
PRINT
1/6/2014
Jan. 6, 2014 – New York – CHC Group Ltd., the parent company of CHC Helicopter S.A., today announced that it has commenced an initial public offering of 29,412,000 of its ordinary shares, all of which will be offered by the company.

The IPO price is currently expected to be between $16 and $18 per share. To the extent that the underwriters sell more than the allotted ordinary shares, the underwriters will have the option to purchase up to an additional 4,411,800 ordinary shares from the company at the IPO price, less underwriting discounts.

The ordinary shares have been approved for listing on the New York Stock Exchange and, subject to the completion of the offering and compliance with certain conditions, will be traded under the symbol “HELI.” CHC expects to use the proceeds to repay certain CHC Helicopter debt and for general corporate purposes.

J.P. Morgan, Barclays and UBS Investment Bank are serving as the joint book-running managers for the offering. The co-managers are HSBC; RBC Capital Markets; Wells Fargo Securities; BNP Paribas; Standard Bank; Comark Securities (USA) Limited; Cowen and Company; Raymond James; Simmons & Company International; and Tudor, Pickering, Holt & Co.

The offering will be made only by means of a prospectus. A preliminary prospectus for the offering, when available, may be obtained from:
J.P. Morgan
c/o Broadridge Financial Solutions
1155 Long Island Ave.
Edgewood, NY 11717
1 866-803-9204

Barclays
c/o Broadridge Financial Solutions
1155 Long Island Ave.
Edgewood, NY 11717
1 888-603-5847
[email protected].

UBS Investment Bank
Attn: Prospectus Dept.
299 Park Ave.
New York, NY 10171
1 888-827-7275

A registration statement 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. The registration statement on Form S-1 may be accessed through the SEC’s website at U.S. Securities and Exchange Commission | Homepage.
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Old 6th Jan 2014, 12:47
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US exchanges and material disclosure

Two major helicopter operators listed in the US should make future events less of a mystery given any official message from one will automatically be able to be validated by the other, perhaps preventing any of the "it wouldn't happen here" jibes.
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Old 6th Jan 2014, 20:00
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I think it is highly likely that this is beginning the end for CHC and First Reserve as family. The only question is who will buy CHC now. First Reserve have stripped it down and sold off many or most of CHC assets. It would take a ballsy company to try and build it back up again to what it once was. It was never the intention of FR to hold CHC for long and this intention was fairly obvious in the beginning. Their history shows their modus operandi very clearly and this is just following form. More interesting times ahead for CHC?
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Old 17th Jan 2014, 07:17
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CHC announces IPO pricing | Helihub - the Helicopter Industry Data Source
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Old 17th Jan 2014, 16:52
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Yes could be interesting times ahead for CHC for sure.

Could even be Bristows buying a lot of the shares. Has happened before, at one time Bristow had 49% of the Okanagan Helicopter Shares .
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Old 17th Jan 2014, 22:57
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Could CHC be ripe for the picking ?
Article below from Reuters.


(Reuters) - Shares of CHC Group Ltd (HELI.N), the world's largest commercial helicopter operator, fell as much as 7 percent in their market debut, valuing the company at about $700 million.

The Cayman Islands-based company raised $310 million after its initial public offering was priced at $10 per share, below its expected price range of $12-$14.

CHC shares opened at $9.30 on the New York Stock Exchange on Friday.

CHC was taken private in a $1.48 billion deal in 2008 by energy-focused private equity firm First Reserve Corp, which holds about 61.3 percent of the company.

JP Morgan and Barclays were the lead underwriters of the offering.




(Reporting By Neha Dimri in Bangalore; Editing by Joyjeet Das)
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Old 18th Jan 2014, 01:04
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So First Reserve bought CHC for USD 1.46 billion bucks and now the market thinks it is worth 700 million......half the purchase price.

Wonder who gets to wear that one inside FR.
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Old 18th Jan 2014, 01:46
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IDK, buy it, pillage it, sell off the plums, milk it for max return, and still sell the carcass for $700,000,000.

I bet he gets a bonus.
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Old 18th Jan 2014, 05:37
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Smile CHC NYE 2014

Very Cynical people you lot -(although its very true;
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Old 22nd Jan 2014, 04:35
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IPO comes up short....

U.S. IPO Recap: Group Of Energy-Related IPOs Comes Up Dry - Seeking Alpha
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Old 22nd Jan 2014, 18:47
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https://exchanges.nyx.com/en/new-yor...rates-ipo-nyse
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Old 27th Jan 2014, 12:20
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Didn't First Reserve pay 3.5 million for CHC,not 1.46 mill??
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Old 29th Jan 2014, 23:08
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Thats BILLION, not million.........
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Old 30th Jan 2014, 08:14
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Correct...billions but question still stands .
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Old 30th Jan 2014, 12:59
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If you would have clicked on the link I posted you would have seen this:

CHC Group (HELI), a commercial helicopter operator for the offshore oil and gas industry, priced 41% below the midpoint of its range in a $310 million deal. Acquired by First Reserve for $3.5 billion in 2008, CHC has been unprofitable for several years due to its high debt balance, which remained above $1.5 billion after the IPO.
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