Warsaw (Puls Biznesu) – SkyEurope, the low-cost airline, is going to sell shares EUR 6 a share. It will receive EUR 70.8m for 10m newly issued shares. This is going to be the first airline to be listed in the Warsaw stock market. It has already published its issue prospectus in Vienna.
“The book building results were good. There was 300 percent oversubscription. Shares will be listed in Vienna and Warsaw on September 27th”, Krisztina Benda, CAIB specialist said. CAIB is offering the stock. “We have acquired 500 investors and we are very pleased with that”, Eryk Klopotowski, SkyEurope spokesman added.
The funds will be spent for the fleet. The airline has ordered boeings 737-77 worth USD 880m (EUR 726m). SkyEurope has not had income in its history. In the fiscal year ending in September, it forecasts to have EUR 26.6m of net loss against EUR 105m of sales. In 2007,l the company plans sales of EUR 256m and EUR 6.7m of net income.(USD 1 = EUR 0.825)