Aerospace, Defense Parts Maker Arxis Seeks $1.06 Billion in IPO

Arxis Inc., a maker of electronic and mechanical parts for aerospace and defense firms is seeking to raise as much as $1.06 billion in its US initial public offering.

The Bloomfield, Connecticut-based firm plans to market 37.7 million shares for $25 to $28 each, according to a filing with the US Securities and Exchange Commission on Wednesday. At the top of the price range, the company would have a market value of $11.2 billion based on the outstanding shares listed in the filing.