Wizz Air IPO: Low-cost carrier gets first-class treatment after listing in London
Wizz Air soared yesterday as its shares commanded an eight per cent premium on its offer price during conditional trading.
The Hungarian budget airline, which was founded in 2003, has expanded rapidly in recent years as the budget airline capitalised on the collapse of Hungarian flag carrier Malev in 2012.
The growth rate saw passenger numbers surge 18 per cent in the nine months to December, compared with the year before.
Wizz Air’s float on the London Stock Exchange saw the company raise £103m, giving the airline a market capitalisation of £601m with shares first being offered at 1,150p each.
Chief executive Jozsef Varadi said: “We are delighted to announce the successful completion of our initial public offering on the London Stock Exchange, one that is a natural home for innovative, growing airlines.”
Full trading in company shares is due to start next Monday.