NEWS

Paul Hastings Represents Underwriters in US$400 Million Initial Public Offering of Volaris

September 23, 2013

New York, NY – Paul Hastings LLP, a leading global law firm, represented Deutsche Bank, Morgan Stanley and UBS as the lead underwriters in connection with the initial public offering of Mexican low-cost airline Controladora Vuela Compañía de Aviación, S.A.B. de C.V. (“Volaris”). The offering involved an issuance of Series A shares in Mexico which were listed on the Mexican Stock Exchange and an issuance of Ordinary Participation Certificates in the form of American Depositary Shares in the U.S. and other countries outside of Mexico.  The ADSs were registered with the SEC and listed on the New York Stock Exchange.  The underwriters also exercised the over-allotment option which closed concurrently with the offering.

Volaris was the first airline to list in Mexico since 2011 and this deal was one of the few IPOs in the emerging markets to take off into the head winds of the Syria crisis and successfully landed largely because of record breaking 80% retail interest in the U.S.

Latin America practice partner Mike Fitzgerald led the Paul Hastings team, which also included Latin America practice partner Arturo Carrillo, of counsel Steven Sandretto and associates Arnaldo Rego Jr. and Bruno Espindola.

Paul Hastings LLP is a leading global law firm with offices in Asia, Europe, and the United States. We provide innovative legal solutions to financial institutions and Fortune 500 companies. Please visit www.paulhastings.com for more information.