Wizz Air to list on London Stock Exchange

Newsroom 22/05/2014 | 13:02

Wizz Air said on Thursday it plans to raise EUR 200 million on the main market of the London Stock Exchange in June as the Hungarian budget airline seeks to tap growth in east and central Europe, writes Reuters.

Wizz plans to use the money to strengthen its balance sheet as well as finance its growth plans. Existing shareholders, including private-equity firm Indigo Partners LLC, will pare their stakes via the initial public offering to represent about 50% of the company’s shares, Mr. Váradi said. The size of a planned secondary stock offering hasn’t been set.

The listing is being run by Barclays and Citi and JP Morgan, with Nomura acting as lead manager.

“The Global Offer will comprise an offer of new Ordinary Shares by the Company to raise gross proceeds of approximately €200 million, and the sale of Ordinary Shares by existing investors, including investment funds managed by the Group’s existing principal investor, Indigo Partners LLC (“Indigo”). It is also expected that, subject to Admission and other conditions being met, the Company will be considered eligible for inclusion in the FTSE UK Index Series. The Global Offer is expected to complete in June 2014”, according to Wizz Air’s official announcement.

Wizz Air’s network spans 35 countries from 17 bases in nine central and Eastern European countries, with flights to 96 destinations on more than 315 routes.