Frontier Airlines raises $570 million in IPO, starts trading today
Frontier Airlines Airbus A320 takes off from Los Angeles international Airport on August 27, 2020 in Los Angeles, California.
AaronP | Bauer-Griffin | GC Images | Getty Images
Frontier Airlines raised $570 million in an initial public offering, the latest U.S. carrier to take that route as the industry starts to see signs of a recovery, the company said late Wednesday.
The Denver-based budget carrier sold 30 million shares that priced at $19 apiece, the low end of the target range, which gave it a valuation of about $4 billion.
Frontier starts trading Thursday under the ticker ULCC, the initials of the ultra-low-cost carrier, on Nasdaq Global Select Market.
Mark Kleinman is city editor, breaking major business stories and analysing what they mean for the financial sector.
He has revealed some of the biggest stories in the city in the past decade, with a string of exclusives about major takeover deals.
Before joining Sky, he was City Editor of The Sunday Telegraph.
Mark was awarded the London Press Club Business Journalist of the Year in 2011.
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