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Latin American airline Avianca Holdings sets terms for $504 million IPO
By: Renaissance Capital
Avianca Holdings, a leading Latin American airline based in
Panama, announced terms for its IPO on Monday. The company plans
to raise $504 million by offering 27.2 million ADSs (54% insider)
at a price range of $17 to $20. At the midpoint of the proposed
range, Avianca would command a market value of $2.3 billion.
Avianca Holdings, which was founded in 2010 and booked $4.4 billion in sales for the 12 months ended June 30, 2013, plans to list on the NYSE under the symbol AVH. Avianca Holdings initially filed confidentially on June 25, 2013. J.P. Morgan, Citi, BofA Merrill Lynch, UBS Investment Bank, BTG Pactual and Deutsche Bank are the joint bookrunners on the deal.