Frontier Airways Airbus A320 takes off from Los Angeles worldwide Airport on August 27, 2020 in Los Angeles, California.AaronP | Bauer-Griffin | GC
Frontier Airways Airbus A320 takes off from Los Angeles worldwide Airport on August 27, 2020 in Los Angeles, California.
AaronP | Bauer-Griffin | GC Pictures | Getty Pictures
Shares of Frontier Airways’ mother or father firm fell 0.8% of their first day of buying and selling on Thursday.
The funds service mentioned late Wednesday it raised $570 million in an preliminary public providing, the newest U.S. airline to go public because the trade begins to see indicators of a restoration from the Covid pandemic.
Denver-based Frontier bought 30 million shares that priced at $19 apiece, the low finish of the goal vary, which gave it a valuation of about $four billion.
The shares began buying and selling underneath the ticker ULCC, the initials of ultra-low-cost service, on the Nasdaq International Choose Market.
Frontier filed to go public final month after dropping plans over the summer season because the trade was struggling by means of the pandemic.
One other funds service, Solar Nation Airways, went public final month.
Correction: An earlier model of this text misstated the primary day of buying and selling in a bullet level.