Wizz Air seeks London IPO again

Transport

Hungarian low-cost airline Wizz Air said today it is planning an initial public offering (IPO) on the London Stock Exchange, adding that it expects to raise about €150 mln from the share offering.

Wizz Air did not disclose further details on the number of shares to be offered or the prices, however, the listing is expected for the first quarter.

Wizz Air reported in May 2014 that while in search of better financial opportunities, the company decided to list shares on the London Stock Exchange, however the company was not in need of external financing. Almost a month later, the company announced that it would cancel IPO due to volatility on the market.

CEO József Váradi said it was a favorable time to list the company's shares considering the operating environment in the air travel sector has become far more stable, Hungarian news agency MTI reported.

Váradi believes that the listing “will give Wizz Air a new perspective”, because its access to capital has been limited. Following the floating of shares, the company’s liquidity is expected to improve.

Váradi added that 20% of the company shares are expected to be floated, but he gave no estimates on the number of shares on the secondary market. The goal is to maximize financial performance, he added.

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