Volaris Aviation Holding (VLRS) Files $100M IPO

June 6, 2013 9:23 AM EDT
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Volaris Aviation Holding Company (Controladora Vuela Compañía de Aviación, S.A.B. de C.V.) (NYSE: VLRS) filed a registration with the U.S. Securities and Exchange Commission for an Initial Public Offering of its American Depositary Shares, or ADSs. The proposed maximum offering price is $100 million. The company plans to list on the New York Stock Exchange under the symbol “VLRS."

The offering is being made through Deutsche Bank Securities, Morgan Stanley, UBS Investment Bank, Barclays, Cowen and Company, Evercore Partners, and Santander.

Brief financial summary from the company: "We had net income of Ps.203.3 million (U.S.$16.5 million) in 2012 and net loss of Ps.64.6 million (U.S.$5.2 million) in the three months ended March 31, 2013. In addition, our revenues were Ps.11,686.4 million (U.S.$945.9 million) in 2012 and Ps.3,061.6 million (U.S.$247.8 million) in the three months ended March 31, 2013."

Volaris Aviation is n ultra-low-cost carrier, or ULCC, based in Mexico.

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