Wizz Air slumps as Indigo Partners sells half its stake
Wizz Air was under the cosh on Tuesday after US private equity firm Indigo Partners sold just over 7.69 million shares in the budget airline in a placing.
FTSE 250
20,775.63
16:54 15/05/24
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FTSE 350
4,644.47
16:55 15/05/24
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FTSE All-Share
4,596.71
17:09 15/05/24
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Travel & Leisure
7,910.64
16:55 15/05/24
1.34%
104.33
Wizz Air Holdings
2,218.00p
16:40 15/05/24
0.36%
8.00p
The shares were sold to institutional investors by way of an accelerated bookbuild at 5,200p each, raising gross proceeds of around £400m.
Following completion of the placing, Indigo will hold 7.3m shares in Wizz Air, down from 15m, or a stake of 17.5%.
At 0820 GMT, Wizz shares were down 6.3% at 5,160p.