The stunning Nasdaq IPO of low-fare airline JetBlue Airways Corp on April 11 generated extraordinary excitement in an industry plagued by losses and retrenchment, and in the sleepy IPO market.
The IPO, for which Morgan Stanley was the sole bookrunner, consisted of an offering of 5.87 million shares, equivalent to about 14% of the company, and raised $158.4 million. It priced at $27, outside the expected $25 to $26 price range, which had already been increased from an initial range of $22 to $24.
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