Davis Polk advised the managers in connection with the initial public offering by Wizz Air Holdings plc (“Wizz Air”). The IPO comprised a primary offering of 9,578,820 new ordinary shares raising net proceeds of approximately £103 million for Wizz Air and a secondary offering of 13,781,188 existing ordinary shares raising net proceeds of approximately £154 million for the selling shareholders, comprising certain of Wizz Air’s senior management, employees, ex-employees and other investors. Investment funds managed by Indigo Partners LLC (“Indigo”), Wizz Air’s main private equity shareholder, provided an over-allotment option in respect of 3,504,000 ordinary shares. The ordinary shares of Wizz Air have been admitted to the premium listing segment of the Official List of the UK Listing Authority and to trading on the Main Market of the London Stock Exchange.  

The offering consisted of a private placement to certain institutional investors in various jurisdictions, including the United Kingdom and the United States. The shares are admitted to trading on the London Stock Exchange under the symbol “WIZZ.”   

Wizz Air is an ultra low-cost carrier providing air transportation services on scheduled short-haul and medium-haul point to- point routes across Europe and into the Caucasus and the Middle East. Wizz Air was established in September 2003 and currently operates from 18 bases in 10 Central and Eastern European countries with flights to 91 destinations on approximately 300 routes in 33 countries.  

Wizz Air was established in 2003 by József Váradi, the current CEO, and certain other founding members. Following the IPO, Indigo will hold 12.9% of the voting rights in Wizz Air as well as certain convertible instruments, which, on a fully converted basis and together with Indigo’s existing ordinary shares, would represent 66.5% of voting rights in Wizz Air.  

The Davis Polk corporate team, which advised as to matters of English and U.S. law, included partners Simon Witty and John Banes and associates Dan Hirschovits, Nick Gilling and Elisabeth Milan. Partner Jonathan Cooklin, counsel Alon Gurfinkel and associate Dominic Foulkes provided English and U.S. tax advice. Members of the Davis Polk team are based in the London office.  

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