Shares of Pegasus Airlines will start trading on Friday after the Turkish carrier completed yesterday an initial public offering of 34.5% of its stock at 18.40 Turkish liras ($10.2) per share, according to a filing with the Bourse Istanbul.
A greenshoe option was exercised.
The low-cost carrier said in a March offering prospectus the IPO would help fund fleet and network expansion while strengthening its liquidity position.
Pegasus anticipated in the prospectus foreign investors would purchase 70% of shares at the IPO, and domestic investors would buy the rest.
In December 2012, the carrier placed an order for 58 Airbus A320neos and 17 A321neos.
Pegasus currently operates a fleet of 37 Boeing 737-800s and two 737-400s, according to Flightglobal's Ascend Online database.