US low-cost carrier investment specialists Indigo Partners LLC have rejoined Wizz Air's share capital following the sale of their 10.7 million ordinary shares or 18.7% stake in the carrier for GBP249 million (USD317.1 million).

Following that transaction, Indigo Partners said it had retained 44,830,503 convertible shares and convertible notes which, on conversion of the full principal amount, would entitle it to have an additional 24,246,715 new ordinary shares in Wizz Air (W6, Budapest).

As such, in a statement to the London Stock Exchange (LSE) on Tuesday, June 27, the Hungarian LCC said that through its Indigo Hungary LP and Indigo Maple Hill, L.P units, Indigo Partners would convert 11,515,509 and 3,484,491 convertible shares valued at GBP0.0001 each into ordinary Wizz Air shares also valued at of GBP0.0001 each.

The conversion will take effect on July 3, 2017, and will increase the number of Wizz Air Ordinary Shares in issue from 57,477,671 to 72,477,671 while reducing the number of Convertible Shares in issue from 44,830,503 to 29,830,503.