Abra Group Plans IPO on NY or London Stock Exchange in Next 12-18 Months

The plans of the Abra Group, which is made up of Avianca, Gol and Viva Air, will sell shares on the New York or London Stock Exchange in the next 12 to 18 months.

The group, Avianca’s business holding company, is looking to make an Initial Public Offering (IPO) now that its income is stable and it has reduced its debt after emerging from bankruptcy proceedings.

“Without a doubt, the IPO makes all the sense to support the growth of the group,” said María Cristina Ricardo, Avianca’s director of investor relations, to Bloomberg, as reported by El Espectador.

Avianca’s bonds that mature in 2028 have generated returns for investors of more than 15% this year, outperforming Latin American companies, according to Bloomberg data.

as reported REPORTUR.coIn February Adrian Neuhauser, CEO of Avianca, confirmed that the most viable solution for Viva Air continues to be Avianca, but if it does not happen, it would not be a problem for the Abra Group, where the Brazilian Gol participates. In addition, he believes that the Group will solve the connectivity of the region and that is why it is a threat to airlines such as Copa, Wingo and Latam. (Avianca: “Grupo Abra is a threat to Copa-Wingo and Latam”).

Neuhauser in Inside La República said that “the negotiation with Viva is a separate issue, but we believe that it is better for the Group and for the country that integration with Viva be allowed to be saved, but if not, the plans for Open keep going.”