LatinAviation From United States of America, joined Nov 2003, 1276 posts, RR: 15 Posted (7 years 2 months 2 weeks 6 days 3 hours ago) and read 1881 times:
I haven't seen this posted on A.net yet, but MAXjet's shares will begin to trade on 14 June on the London AIM exchange. They have modified their corporate governance to comply with the US ownership restrictions on 25% voting and 49% equity caps.
They'll raise USD$93.7MM, most of the proceeds will be used to pay off pre-IPO bridge financing and for cash reserves, with other funds used for expansion.
Below is an article on the flotation:
MAXjet raises $94M, plans overseas expansion http://www.bizjournals.com/washingto...2007/06/04/daily55.html?from_rss=1
Low-cost business class airline MAXjet has raised $93.7 million in a London stock sale and says it will use some of the money to expand flights abroad. The Dulles-based airline, which operates a small fleet of 767s on routes from Washington and New York to London's Stansted Airport, sold 36.6 million shares to private investors. Some of the money will be used to pay pre-IPO bridge loans.
LatinAviation From United States of America, joined Nov 2003, 1276 posts, RR: 15
Reply 9, posted (7 years 2 months 1 week 6 days 11 hours ago) and read 1293 times:
Quoting CHRISBA777ER (Reply 8): Not really - first full year of ops, thats fairly standard for an airline without an established customer base - the investors will have been primed and the backers will have deep pockets.
What do you mean by not really? This is taken verbatim from their P&L in the prospectus. I didn't qualify the loss, I am simply reporting it.