The registration and public sale of Avianca shares was authorized by the Financial Supervisory Authority, El Espectador reported Friday.
One hundred million preferential, no-voting-rights shares are to be issued and the income generated from these shares will go toward expansion programs and meeting the needs of Avianca and its subsidiaries.
Market information indicates that Avianca Taca Holding will issue a minimum of $224 million in shares. The validity of the offer is 15 days from the registration of the shares.
The minimum amount that can be invested is set at $2,700 however there are calls for this amount to be lower so that more people can buy shares in this iconic Colombian company. Avianca was the first airline to be established in South America and is the second oldest in the world.