IPO for Low-Cost Airline Frontier Group (ULCC) Opens Modestly Lower

April 1, 2021 11:36 AM EDT

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Today's IPO for Frontier Group Holdings, Inc. (NASDAQ: ULCC) opened for trading at $18.61 after pricing 30 million shares of its common stock at a price to the public of $19.00 per share.

Citigroup, Barclays, Deutsche Bank Securities, Morgan Stanley and Evercore ISI acted as lead bookrunners for the proposed offering. BofA Securities, J.P. Morgan, Nomura, UBS Investment Bank, Cowen and Raymond James acted as additional bookrunners for the proposed offering.

Frontier Group Holdings Inc. is the parent company of the budget carrier Frontier Airlines. The stock ticker ULCC stands for “ultra-low-cost carrier.”

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