Wizz Air (Hungary), the largest low-cost airline company in Central and Eastern Europe, has priced its initial public offering (IPO) at GBP 11.50 per ordinary share. The company announced this in a statement on the London Stock Exchange.

According to the statement, the share capital of Wizz Air will be 126.611 million shares, including 52.264 million issued ordinary shares (based on this offer price, the listed market capitalisation of the company will be GBP 601 million or USD 931 million) and 48.831 million non-voting, non-participating convertible shares, which will be convertible into ordinary shares on a one-for-one basis. In addition, up to 1.154 million ordinary shares may be issued on valid exercise of outstanding vested options under the company's existing employee share-option plan.

Based on the offer price, the fully diluted equity value of Wizz Air at admission will be GBP 1.456 billion (USD 2.256 billion). The company's value may change after purchase of the shares offered via the IPO, depending on interest of investors.

The low-cost carrier expects to receive approximately GBP 103 million (USD 159 million million) in net proceeds from the IPO. Placement should begin on Wednesday, 25 February. The company is assigned ticker “WIZZ” (ISIN: JE00BN574F90) on on the London Stock Exchange.