Home Business Frontier Airlines raises $570 million in IPO, starts trading today

Frontier Airlines raises $570 million in IPO, starts trading today

by MD Samsuzzaman Siyam

Frontier Airlines Airbus A320 takes off from Los Angeles international Airport on August 27, 2020 in Los Angeles, California.

AaronP | Bauer-Griffin | GC Images | Getty Images

Frontier Airlines raised $570 million in an initial public offering, the latest U.S. carrier to take that route as the industry starts to see signs of a recovery, the company said late Wednesday.

The Denver-based budget carrier sold 30 million shares that priced at $19 apiece, the low end of the target range, which gave it a valuation of about $4 billion.

Frontier starts trading Thursday under the ticker ULCC, the initials of the ultra-low-cost carrier, on Nasdaq Global Select Market.

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