February 4, 2020 / 7:44 AM / 21 days ago

Wizz Air's top stakeholder sells 12.5 mln shares in airline

Feb 4 (Reuters) - Wizz Air Holdings Plc’s largest shareholder, private equity firm Indigo Partners, on Tuesday sold about 12.5 million shares of the low-cost airline, at a 3.5% discount to Monday’s close, according to the bookrunner.

The placing, at a price of 4,015 pence per share, raised proceeds of about 500 million pounds ($648.45 million).

The Indigo Partners shareholders own 20.6% of Wizz Air, which is worth about 624 million pounds based on Monday’s close.

Veteran low-cost airline investor Bill Franke is Indigo’s managing partner and founder, and is also the chairman of Wizz Air. ($1 = 0.7711 pounds) (Reporting by Yadarisa Shabong in Bengaluru; Editing by Shounak Dasgupta)

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