DPC Holdings Limited, operating as Doncasters, has priced its initial public offering of 27,858,585 ordinary shares at $33.00 per share, according to a company statement.
The offering was upsized, with gross proceeds expected to reach approximately $919.3 million before underwriting discounts, commissions, and estimated offering expenses. Doncasters has granted underwriters a 30-day option to purchase an additional 4,178,787 shares, which would bring total gross proceeds to approximately $1.06 billion if exercised in full.
The ordinary shares are expected to begin trading on the New York Stock Exchange under the ticker symbol on June 25, 2026, with the offering expected to close on June 26, 2026, subject to customary closing conditions.
Doncasters said it intends to use net proceeds from the offering, along with approximately $144.0 million from concurrent private placements, to repay outstanding indebtedness including a shareholder PIK loan. The remainder is earmarked for general corporate purposes, including working capital, future growth projects, and payments under a cash-based management incentive plan.
Jefferies and Morgan Stanley are serving as lead joint bookrunners. Barclays and Moelis are acting as joint bookrunners, while RBC Capital Markets and Rothschild & Co are additional bookrunners.
Doncasters manufactures precision cast components and superalloys, operating 14 manufacturing facilities across North America, Europe, the United Kingdom, and Asia.