Shares in low-cost provider Wizz Air fell by greater than 5 per cent in early buying and selling this morning as Indigo Companions mentioned it might divest half of its stake within the airline.
The US personal fairness agency, which additionally owns stakes in American Frontier Airways and Chilean low-cost airline JetSmart, offered simply over 7.69 million shares in a inserting.
The shares have been offered to institutional traders by the use of an accelerated bookbuild at £52 every, elevating gross proceeds of round £400 million.
Following completion of the inserting, Indigo will maintain 7.three million shares in Wizz Air, down from 15 million, or a stake of 17.5 per cent.
The share inserting is because of be accomplished by Thursday, in keeping with Barclays Financial institution, which is appearing as the worldwide co-ordinator on the deal.
Wizz Air mentioned it won’t obtain any proceeds from the transaction.
