15th Mar 2021 17:29
(Alliance News) - Wizz Air Holdings PLC's largest shareholder will sell GBP400 million worth of shares in the carrier, Barclays Bank PLC said on Monday.
Indigo Partners LLC, which owns just under an 18% stake in Wizz, will sell some of the stock to institutional investors in an accelerated bookbuild.
Barclays Bank will act as global coordinator of the sale, and will be co-bookrunner alongside Goodbody Stockbrokers.
Wizz Air shares closed 0.1% higher at 5,505.00 pence each in London on Monday.
At current market price, GBP400 million would fetch around 7.3 million Wizz Air shares. Indigo owns 15.0 million shares in Wizz.
Barclays Bank noted Wizz will not receive any proceeds from the sale.
By Eric Cunha; [email protected]
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