Era Group Files to Raise $150M in IPO

Lake Charles, Louisiana-based Era Group, a Helicopter operator owned by SEACOR Holdings Inc., has filed to raise up to $150 million in an initial public offering, Reuters reported. Goldman Sachs, JP Morgan and Deutsche Bank will underwrite the offering.

(Reuters) – Helicopter operator Era Group Inc, owned by SEACOR Holdings Inc , filed with U.S. regulators to raise up to $150 million in an initial public offering of its Class A common stock.

In a filing with the U.S. Securities and Exchange Commission, the company said Goldman Sachs, JP Morgan and Deutsche Bank would be underwriting the offering.

The Lake Charles, Louisiana-based company said it would use proceeds from the offering to repay a portion of advances received from SEACOR, which owns 100 percent of the outstanding common stock and will continue to be the controlling stockholder after the offering.

The company plans to list its shares on the New York Stock Exchange under the symbol “ERA.”

The amount of money a company says it plans to raise in its first IPO filing is used to calculate registration fees. The final size of the IPO can be different. (Reporting by Chris Jonathan Peters in Bangalore; Editing by Gopakumar Warrier)