Latvian airline Air Baltic Corp AS is considering the possibility of listing shares on the LSE London Stock Exchange in the second quarter of 2025. This is reported by foreign media.
Negotiations are ongoing and, accordingly, the final volume of the placement of shares and the timing may change.
In September 2024, Air Baltic management announced its intention to raise 300 million euros ($328 million) in an IPO with the support of the Latvian government in order to acquire a dual listing on the international and Riga stock exchanges.
The IPO of Air Baltic on the London Stock Exchange will be a positive factor against the background of the outflow of companies seeking to transfer shares or conduct an IPO on the NYSE. The volume of IPO transactions in London in 2025 was less than $76 million, compared with $2.8 billion on other European exchanges.
In early 2025, Deutsche Lufthansa AG entered into an agreement to acquire 10% of Air Baltic's convertible shares for 14 million euros. The transaction is expected to be completed in the second quarter of 2025. Lufthansa will be able to exchange the convertible shares for ordinary shares as part of the IPO.
Lufthansa has been operating flights with Air Baltic under a code-sharing agreement since 2021. In 2024, Lufthansa's Swiss subsidiary used Air Baltic aircraft under a lease agreement.
Air Baltic is a Latvian national airline operating scheduled and charter flights to Latvia and other countries, including 70 destinations in the Baltic region, Europe, Scandinavia, the Caucasus and the Middle East. The company uses Airbus A220-300, Boeing 737-300, Boeing 737-500, Bombardier Dash 8 Q400 aircraft. The headquarters is located in Riga (Latvia).
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