Wizz Air (W6, Budapest) raised GBP257 million (USD397 million) on its debut on the London Stock Exchange on February 25, roughly GBP150 million (USD231 million) more than its original projections of GBP109 million (USD168 million).
The budget carrier floated 52,263,615 ordinary shares, including 23,360,008 offered shares. The latter comprised 9,578,820 newly issued shares and 13,781,188 shares offered by existing shareholders.
With roughly 71% of all available equity sold, US investment firm Indigo Partners LLC, Wizz Air's biggest investor, will continue to own around 12.9% of the business.
Though priced at GBP11.50 (USD17.76) on opening, the carrier's shares closed at GBP12.50 (USD19.31) giving the carrier an overall valuation of GBP601 million (USD927 million).
Proceeds will be used to fund the airline's future growth plans, the acquisition of fifty-seven Airbus A320-family aircraft and parts, and other general corporate expenses.
