January 29, 2014 / 8:05 PM / 4 years ago

Mexico budget airline VivaAerobus sets range for IPO

MEXICO CITY, Jan 29 (Reuters) - Mexican low-cost airline VivaAerobus is seeking to sell shares at between 21 pesos ($1.57) and 25 pesos in its initial public offering on Feb. 11, according to regulatory filings.

The company, which this month said it would go public, plans to sell up to 113 million shares, the undated filings showed.

The Monterrey-based group launched in 2006 and is a venture of Mexican transport company Grupo IAMSA and the family behind low-cost airline Ryanair.

Rival Mexican low-cost airline Volaris raised $345 million not including an overallotment option by selling shares in Mexico and New York last year.

Volaris’ Mexico-listed shares priced at the low end of their range at 12 pesos.

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