Military Drone Maker Aevex Raises $320 Million in US IPO

Aevex Corp., a maker of military drones, raised $320 million in its initial public offering, as investment in modern defense and autonomous systems rises.

The Madison Dearborn Partners-backed firm sold 16 million shares for $20 each, according to a statement, after marketing them for $18 to $21 each. The IPO was multiple times oversubscribed, people familiar with the matter said earlier.