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Helicopter fleet operator CHC expects to raise about $530 mln in IPO

Monday, 6 Jan 2014 | 7:18 AM ET

Jan 6 (Reuters) - CHC Group Ltd , the world's largest commercial helicopter services provider, said it planned to raise up to $529 million in an initial public offering.

The company, owned by private equity firm First Reserve Corp, is offering 29.4 million shares at an expected price of between $16 and $18 per share, according to a registration statement filed with the U.S. Securities and Exchange Commission on Monday.()

First Reserve's stake in the company will drop to 61.3 percent stake after the offering, which will value CHC at $1.37 at the top end of the expected price range.