Tuesday, 4 February 2020

Bumpy ride for Wizz Air as top shareholder to flog £500 million's worth of shares

The European budget air carrier Wizz Air is going to almost completely lose one of its biggest shareholders if the latest news is correct.  Indigo Partners currently holds around 20.6% of the shares in Wizz that is said to be worth around £624 million.  Now they plan to sell £500 million's worth of that investment via an accelerated bookbuilding process, the bookrunner on the sale said on Monday. The number of ordinary shares the Indigo shareholders will hold after the placing will be announced following completion of the bookbuilding process.

According to the report, these shares will be offered to institutional investors at first, which could see the Hungarian government taking a slice of the carrier,  which recently updated its profit advice for the year. 

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