WARSAW: Poland’s top charter airline Enter Air wants to raise PLN 110 million net from its IPO, offering up to 7 million new shares or up to 39.9% of increased share capital, with the maximum price for retail investors set at PLN 19, the company said in its issue prospectus and annex to prospectus.
Individual investors will be offered up to 1 million shares or some 15% of all shares offered, while up to 5.9 million shares or 83.5% will go to institutional investors. Additionally, entitled entities (i.e. employees and partners of the firm) will be able to purchase up to 100,000 shares at the maximum price of PLN 17.10.
Enter Air currently held a 31.6% share in Poland’s charter flight market in Poland with 1.2 million passengers in 2014, the firm said in an accompanying press statement. It cooperates with some the country’s biggest tour operators. It also provides services to 300,000 clients abroad. It currently operates a fleet of 17 aircraft.
