International Buyers Drive Volaris IPO

International Buyers Drive Volaris IPO

Mexico Equity

Nearly 79% of Volaris' $390m IPO is being sold to international investors in the form of ADS, according to regulatory documents, slightly more than the 75% anticipated. The sale priced Tuesday night ahead of Wednesday's FOMC commentary and came at the bottom of a $12-$14 per ADS range. Demand reached about 3x by the time books closed, according to people familiar with the transaction. Participation included about 56% long-only investors, with LatAm-dedicated and global airline investors playing

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