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Aeroflex Files for $500 Million IPO

(Reuters) – Aeroflex Holding Corp filed with U.S. regulators on Tuesday to raise up to $500 million in an initial public offering of common stock.

Plainview, New York-based Aeroflex provides radio frequency and microwave integrated circuits used in wireless communication systems. It said in its prospectus that its customers include Boeing Co (BA.N), Cisco Systems Inc (CSCO.O), and Raytheon Co (RTN.N).

Aeroflex posted total net sales of $297 million in the six months ended Dec. 31, down slightly from $298 million a year earlier. The company’s net loss widened to $31 million from $11 million.

Aeroflex was taken private by funds affiliated with Veritas Capital Partners, Golden Gate Capital and Goldman Sachs and certain members of the company’s management in 2007, it said in a filing with the U.S. Securities and Exchange Commission. 

Underwriters on the offerings are being led by Goldman Sachs & Co, Credit Suisse, J.P. Morgan and Morgan Stanley.

The filing did not say how many shares the company planned to sell or their expected price range. The company intends to list its shares on the New York Stock Exchange under the symbol “ARX.”

(Reporting by Sweta Singh in Bangalore and Clare Baldwin in New York; Editing by Unnikrishnan Nair)