DPC Holdings (DPC) Gets 42% Boost on Market Debut

DPC Holdings Limited (NYSE:DPC) is one of the 9 Stocks Winning by Double Digits.

DPC Holdings soared by 42.06 percent in its first trading day amid a continued strong investor appetite for the aerospace and defense market.

During the session, DPC Holdings Limited (NYSE:DPC) opened at $44, immediately clocking a 33-percent jump from its initial public offering (IPO)price of $33. It hit as high as $47.09, marking a growth of 42.7 percent.

The New York Stock Exchange building. Photo by Дмитрий Трепольский on Pexels

DPC Holdings Limited (NYSE:DPC) was able to raise $919.3 million from the successful sale of more than 27.8 million ordinary shares, with the potential to raise the total to $1.06 billion if the underwriters exercise their 30-day option to purchase over 27.8 million shares at the IPO price.

The company said that it intends to use its net proceeds from the offer to repay outstanding indebtedness, including a payment-in-kind to one of its shareholders. The balance will be used for general corporate purposes, including working capital, future growth projects, and amounts due under its cash-based management incentive plan.

DPC Holdings Limited (NYSE:DPC) is a portfolio co

Fuente original: Yahoo Finance (https://finance.yahoo.com/markets/stocks/articles/dpc-holdings-dpc-gets-42-032158014.html)