WOW air (Reykjavik Keflavik) has issued EUR60 million euro (USD70.6 million) worth of bonds in the market as it looks to raise extra cash ahead of its Initial Public Offering (IPO) planned within the next 12 to 18 months, RÚV has reported.
Of the new bond issue, EUR50 million euros (USD58.8 million) has already been bought by investors. The remainder will be sold in the coming months, the carrier said. The bonds have been issued electronically in Norway and will be listed at the NASDAQ Nordic stock exchange in Stockholm.
The Icelandic LCC also said it had appointed Arion Bank and Arctica Finance to prepare an IPO both in Iceland and abroad. It is not clear if the carrier considers domestic and foreign listings as alternatives or whether it is looking at a dual listing.
