Volaris shares rise 13 pct in Mexican airline's U.S. market debut
Sept 18 (Reuters) - Shares of Mexico's low-cost airline Volaris rose as much as 13 percent on the New York Stock Exchange in their U.S. debut on Wednesday, after the company raised about $350 million through an initial public offering.
Volaris, which went public through a dual Mexican and U.S. IPO, priced the offering at $12 per American depositary share (ADS), the low end of its expected price range.
Volaris's ADS opened at $12.76 at about 9:45 a.m. ET and touched a high of $13.58 in heavy volume trading early on Wednesday.
The company had filed with the U.S. Securities and Exchange Commission to issue up to $100 million of ADSs in the offering with Deutsche Bank, Morgan Stanley and UBS as lead underwriters.
The ADS was up 10 percent at $13.21.
(Reporting by Aman Shah in Bangalore; Editing by Kirti Pandey)