WARSAW: Enter Air planned to raise PLN 110 million net from issuing up to 7 million new shares, with the proceeds from the IPO to be used on pre-delivery payments for new aircraft. The maximum price was set at PLN 19.
Polish charter airline Enter Air suspended its IPO due to unfavorable market conditions, but may return to the offer once these conditions improve, the company said in a press statement. “The turmoil on financial markets related to the situation in Greece significantly weakened sentiment towards investing in equities,” management board member Grzegorz Polaniecki said as cited in the statement. “We will observe the market situation and we do not rule out returning to the public offer.”
Suspending the public offer has no impact on the firm’s investment goals, i.e. buying new aircraft, the official added. “In the coming months payments for aircraft are small and will be financed from own means,” he said.
