Grupo Viva Aerobus, Mexico’s fourth-largest airline, has delayed its 3 billion peso ($226 million) initial public offering due to market volatility. The airline has stated that it will continue to look for other opportunities to go public.
The airline had been planning to set a price for the deal today, with the shares to start trading on the Mexican stock exchange tomorrow.
“While we received significant interest from potential investors, the continued market volatility is not an optimal condition for an IPO,” Chief Executive Officer Juan Carlos Zuazua said in the statement. Barclays had been hired to lead the offering with Grupo Financiero Banorte and HSBC.