Stelios grabs lion's share of airline

James McLean12 April 2012

EASYJET founder Stelios Haji-Ioannou's privately-held easyGroup company took up most of the 26m shares made available in the budget airline's recent open offer and placing.

The 375p-a-share offer raised £93.3m, which the carrier intends to spend on new planes. EasyGroup bought 15.61m of the shares.

Under the terms of the offer, which closed on Tuesday, 6.5m shares were pre-emptively placed with institutions, and Haji-Ioannou's private companies pledged to underwrite 14m of the remaining 19.5m.

Those companies bought their 14m allocation and the remaining 1.6m available after only 3.6m shares, or 70.8% of the 5.5m in the open offer, were taken up by external investors.

Create a FREE account to continue reading

eros

Registration is a free and easy way to support our journalism.

Join our community where you can: comment on stories; sign up to newsletters; enter competitions and access content on our app.

Your email address

Must be at least 6 characters, include an upper and lower case character and a number

You must be at least 18 years old to create an account

* Required fields

Already have an account? SIGN IN

By clicking Create Account you confirm that your data has been entered correctly and you have read and agree to our Terms of use , Cookie policy and Privacy policy .

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Thank you for registering

Please refresh the page or navigate to another page on the site to be automatically logged in