Industrial Firm Madison Air Seeks $2.23 Billion in IPO

Madison Air Solutions Corp. is seeking to raise as much as $2.23 billion in its initial public offering, in what would be the biggest US listing of an industrial company in close to three decades.

The Chicago-based provider of ventilation and filtration systems is selling 82.7 million shares for $25 to $27 each, according to a filing Monday with the US Securities and Exchange Commission. The IPO is expected to price on April 15, based on a marketing presentation.