Romanian airline Blue Air plans €250m float
The Times says Blue Air, Romania’s leading airline, is to list on the London stock market in autumn with a valuation of up to £500 million and with the hope of emulating Wizz Air, Europe’s aviation success story of the past decade.
Blue Air is planning to list on Aim through a reverse takeover of a cash shell, Ridgecrest. It is hoping to raise up to €250 million initially through the issue of convertible bonds and then via new shares to help it expand from its fleet of 15 aircraft to about 50 within five years, operating only Boeing 737 Max aircraft.
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