Low-cost airline Wizz Air, the largest budget airline in Central and Eastern Europe, is to float on the London Stock Exchange.
Wizz Air, whose network spans 35 countries from 17 bases in nine Central and Eastern Europe, intends to apply for admission of its ordinary shares to the premium segment of the Official List of the Financial Conduct Authority and to trading on the main market for listed securities of the London Stock Exchange.
The global offer will comprise an offer of new ordinary shares by the company to raise gross proceeds of approximately EUR200 million, and the sale of ordinary shares by existing investors, including investment funds managed by the group's existing principal investor, Indigo Partners.
It is also expected that, subject to admission and other conditions being met, the company will be considered eligible for inclusion in the FTSE UK Index Series. The offer is expected to complete in June 2014.
Since the company’s first flight in 2004, Wizz Air has grown to become the largest low-cost carrier in Central and Eastern Europe with a market share of 38 per cent for the year ended 31 March 2014. Wizz Air provides low-cost air transportation services on scheduled short-haul and medium-haul point-to-point routes across Europe and into the Caucasus and the Middle East.
