Avianca Set for ADS Debut

Avianca Set for ADS Debut

Colombia Equity

Avianca is scheduled to price today the equity follow-on marking the debut of the ADS representing preferred shares of the Avianca Holdings entity. The transaction is offering 12.5m primary ADS and 14.7m secondary ADS at $17.00-$20.00 each, meaning a $579m sale at the midpoint if a 15% all-secondary greenshoe is included. Each ADS represents eight Avianca Holdings preferred shares. The preferred shares were last seen trading at COP4,265 ($2.43) each, according to the Colombian Bolsa, or what wou

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