Friday, April 16, 2021

Wizz Air shares fall at Indigo Partners sells stake | News

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Shares in low-cost carrier Wizz Air fell by more than five per cent in early trading this morning as Indigo Partners said it would divest half of its stake in the airline.

The US private equity firm, which also owns stakes in American Frontier Airlines and Chilean low-cost airline JetSmart, sold just over 7.69 million shares in a placing.

The shares were sold to institutional investors by way of an accelerated bookbuild at £52 each, raising gross proceeds of around £400 million.

Following completion of the placing, Indigo will hold 7.3 million shares in Wizz Air, down from 15 million, or a stake of 17.5 per cent.

The share placing is due to be completed by Thursday, according to Barclays Bank, which is acting as the global co-ordinator on the deal.

Wizz Air said it will not receive any proceeds from the transaction.



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