Doncasters said on Wednesday it had raised $919.3 million in its U.S. initial public offering, as the nearly 250-year-old ​aerospace parts maker heads for its New York debut after a ‌turnaround. The Derby, United Kingdom-based company sold 27.9 million shares in the IPO at $33 apiece, above the marketed range of $28 and $32 apiece. The listing comes over six years after Doncasters' debt restructuring, ​when lenders took control from now-defunct buyout firm Dubai International ​Capital. It also marks a key milestone in Doncasters' turnaround, with the ⁠firm investing over $170 million since 2020 to modernize facilities and expand ​capacity. Doncasters' journey began in 1778 in Sheffield, UK, as a file-making business. It ​has since grown into a key global aerospace and industrial parts supplier. "Doncasters heritage is helpful, because a 250-year history supports the story that the company has the know-how ​and reliability in a demanding industry. However, history only gets you so ​far," IPOX Research Associate Lukas Muehlbauer said. "The more important part of the story is ‌the ⁠turnaround since the 2020 ownership change, with revenue having more than doubled." AI ENERGY-DEMAND PLAY Doncasters, which competes with Howmet and Precision Castparts, makes a wide range of complex parts - including blades and vanes - for aerospace engines and industrial ​gas turbines. Demand for ​gas turbines has ⁠surged as rapid data center expansion drives electricity demand beyond the capacity of grid infrastructure. That has boosted demand for ​blades and vanes, which are routinely replaced over the ​lifecycle of ⁠a gas turbine. "Doncasters positions itself not just a defense story, but also an AI energy-demand play, therefore combining two of the most popular investment themes ⁠in ​recent months," Muehlbauer said. Jefferies and Morgan Stanley acted ​as lead joint bookrunners. Doncasters will begin trading on the NYSE under the symbol “DPC” on Thursday.