Vueling resumes trade sharply lower on weak demand for Apax placement
Tags :
Continental Europe,
Vueling
(CAPA) Shares in Vueling Airlines SA resumed trade sharply lower on fears of weak demand for Apax Partners' placement of its 20.97% stake in the carrier. At 11.00 am, Vueling was down EUR3.01 or 8.9% at EUR 30.81, off a low of EUR30.55 and a high of EUR31.75, on volume of about 339,000 shares. The IBEX-35 index dropped 151.8 points to 15,280.1. It was expected that the final price would be EUR30.50/share.
"This certainly isn't the best timing for the placement," a dealer at a leading international bank said, noting the company recently reported weak first quarter results and a negative outlook for the second quarter due to tariff pressure amid increasing competition.
Date posted: 07-Jun-07
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Vueling resumes trade sharply lower on weak demand for Apax placement 
