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Volaris reveals IPO terms with intent to raise USD375m through issue of 28.8m ADSs: report

2-Sep-2013 11:09 AM

Volaris reportedly revealed its IPO plans and intends to raise USD375 million through the issuance of 28.8 million American depository shares (ADS) in a dual listing with 75% of shares to be listed on the New York Stock Exchange and 25% to be listed on the Mexican Stock Exchange. According to a Renaissance Capital report, the price range will reportedly by USD12-14 per share, which would value the carrier at USD1.3 billion at the midpoint. As previously reported by CAPA, the IPO will reportedly be underwritten by Morgan Stanley, Deutsche Bank Securities and UBS while the carrier plans to invest the proceeds in pre-delivery payments for aircraft and to reduce debt.