So, that can't all be true can it?
Not a single recent float on the LSE has managed to trade above it's flotation price consistently, with the exception of the giveaway that was Royal Mail Group.
I believe a more likely truth is that the current private investors were advised that they'd need to price the shares at the low end (or maybe even below) of their expectations, in order to get the float away at all. This would not necessarily be their best exit strategy - perhaps a trade sale is in the offing?
Added to that, I believe the opacity surrounding the current ownership structure wasn't very well received in certain quarters.
These factors, combined with a general flotation fatigue has led to the float being pulled for now.
This is all in my opinion and one which I have garnered from freely available information in the daily press/internet and financial reading matters.
I'm sure staff turnover wouldn't have featured too highly on possible investors minds. After all, can you remind me how many hull losses Wizz Air have suffered due to crew turnover, or how many days of labour have been lost by them to industrial relations disputes?
I left because I got a fantastic offer elsewhere.
Yours,
A former London Stock Exchange Trader, former Wizz Air Captain and current Captain elsewhere
