Shares of Frontier Airlines’ parent company fell 0.8% in their first day of trading on Thursday.
The budget carrier said late Wednesday it raised $570 million in an initial public offering, the latest U.S. airline to go public as the industry starts to see signs of a recovery from the Covid pandemic.
Denver-based Frontier 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.
The shares started trading under the ticker ULCC, the initials of ultra-low-cost carrier, on the Nasdaq Global Select Market.
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