Indigo’s Wizz Air lists with €818m market cap

The company set the share price for the IPO at £11.50 and sold around 23.3 million shares, raising £268.6m.

Selling shareholders – comprising senior management, both current and former employees and other investors including Indigo – reaped a total of £103m (€140m) from the flotation.

Indigo's stake following admission is 19.6%, although this may decrease to 12.9% should the overallotment option be exercised in full.

The firm will also hold €26.3m in convertible notes and 48.8 million convertible shares.

Conditional dealings commenced on the London Stock Exchange on 25 February 2015, under the ticker "WIZZ". Admission to the main market is set to take place on 2 March.

JP Morgan Securities is acting as sponsor, while JP Morgan, Citi and Barclays Bank are acting as joint global coordinators and bookrunners.

Previous investment
Indigo acquired a stake in Wizz Air in January 2004, supplying €20m in mezzanine financing, according to unquote" data.

Company
Founded in 2003 and headquartered in Budapest, Wizz Air is a low-cost airline operator serving the Central and Eastern European region.

The company carried 13.9 million passengers in the year ending in March 2014. It employs around 2,200 staff and generated €1bn in revenues last year, as well as an EBITDA of €241.4m.

People
József Váradi is the CEO of Wizz Air.

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