Indigo Partners sells 10m Wizz Air shares in placing

(Sharecast News) - Private equity firm Indigo Partners has sold 10m shares in Wizz Air in a placing, according to a release on Friday by JP Morgan. The shares were sold at 1,250p each by way of an accelerated bookbuild process to institutional investors, raising gross proceeds of about £125m.

Following completion, Indigo will hold just over 14.7m shares in the company, representing a stake of approximately 14.2%.

JPM said: "The placement was driven by certain investors in the funds managed by Indigo Partners seeking to realise their investment following an extended holding period."

Morgan Stanley and JP Morgan acted as joint bookrunners in connection with the placing.

At 0808 GMT, Wizz shares were down 6.9% at 1,244p.