WASHINGTON, March 7 (Reuters) - The Parsons Corporation, a construction and engineering company known for building airports and subways, has filed paperwork for an initial public offering that would value the company at around $3 billion, three people familiar with the plan said.
The confidential filing with the U.S. Securities and Exchange Commission sets the stage for employee-owned company to cash in while valuations for defense sector companies are high, people briefed on the talks said. The deal could launch in April or May, one of the people said.
Investment banks, including Goldman Sachs, Morgan Stanley and Bank of America, will likely underwrite the deal, which is expected to raise about $500 million, but the sources said the situation could change before the deal is brought to market.
Representatives for Parsons, Bank of America, Morgan Stanley and Goldman Sachs declined to comment.
Reporting by Mike Stone; additional reporting by Joshua Franklin in New York; Editing by Dan Grebler