(Reuters) -Electric aircraft maker Beta Technologies is expected to price its initial public offering at $34 per share, which is above its marketed range, Bloomberg News reported on Monday, citing people familiar with the matter.
The IPO is also double-digits oversubscribed, according to the report, signaling a strong investor confidence for fresh listings. The company had indicated to price its shares in the range of $27 and $33 apiece.
Beta Technologies did not immediately respond to a Reuters request
for comment.
U.S. IPO activity has remained strong, with several high-profile listings hitting the markets in recent months, following an earlier slowdown triggered by President Donald Trump's shifting trade policies and broader macroeconomic volatilities.
The government shutdown, however, has caused short-term delays in the pipeline.
Beta Technologies designs, manufactures and sells high-performance electric aircraft, advanced electric propulsion systems charging systems and components.
Electric aviation remains a niche segment of the transportation industry, with only a handful of companies developing and testing commercial aircraft.
Beta's aircraft has been used by the U.S. military in training missions and flown by the Federal Aviation Administration.
The company is set to debut on the New York Stock Exchange on Tuesday, under the ticker symbol "BETA".
(Reporting by Pritam Biswas in Bengaluru; Editing by Shilpi Majumdar)
