Mexican airline Volaris Aviation prices IPO at $12 low end, raising $346 million


Volaris Aviation Holding, a Mexican airline that provides low-cost service to 30 Mexican and 10 US cities, raised $346 million on Tuesday by offering 28.8 million ADSs (40% insider) at $12, the low end of the $12 to $14 range. Volaris Aviation, which filed with the SEC under the name Controladora Vuela Compañía de Aviación, will dual-list on the NYSE (ticker symbol "VLRS") and the Mexican Stock Exchange (ticker symbol "VOLAR"). The company initially filed confidentially on 4/5/2013. Deutsche Bank, Morgan Stanley and UBS Investment Bank acted as lead managers on the deal.

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This article appears in: News Headlines , IPOs

Referenced Stocks: VLRS

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