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Feb 3 (Reuters) - Wizz Air's largest shareholder
private equity firm Indigo Partners plans to sell shares worth
500 million pounds ($650 million) via an accelerated
bookbuilding process, the bookrunner on the sale said on Monday.
The Indigo shareholders own 20.6% of Wizz Air, which is
worth about 624 million pounds based on Monday's closing share
price. Veteran low-cost airline investor Bill
Franke is Indigo's managing partner and founder and is chairman
of Wizz Air.
The shares will be offered to institutional investors.
The share sale comes just days after the European low-cost
airline upgraded its annual profit forecast after a strong third
quarter performance when it carried more passengers.
European short-haul airlines have benefited from strong
travel demand in recent months, with Europe's biggest budget
airline Ryanair and second biggest easyJet both
upgrading their outlooks in January.
The number of ordinary shares the Indigo shareholders will
hold after the placing will be announced following completion of
the bookbuilding process.
($1 = 0.7694 pounds)
(Reporting by Noor Zainab Hussain in Bengaluru
Editing by David Goodman and Jane Merriman)
