The Italian federal defense contractor Leonardo announced Friday it has filed a registration statement with the Securities and Exchange Commission for an planned initial public offering (IPO) of its U.S. subsidiary, Arlington-based Leonardo DRS.
The $2.54 billion IPO could take place in March, according to reports from Reuters. Leonardo did not release the official amount of the IPO.
“By retaining our majority shareholding we intend to maintain a significant exposure in this strategically important market, whilst continuing to leverage established relationships for all of Leonardo’s businesses,” Leonardo CEO Alessandro Profumo said in a statement.
