Continental Airlines to sell stock in ExpressJet.
Continental Airlines is reportedly planning to sell about USD200m of its stock in ExpressJet Holdings.
The airline is expected to sell about 8m shares directly to ExpressJet and 5m shares to the public. Continental may also grant the underwriters of the public offering the option to purchase an additional 750,000 shares to meet demand.
The sale will cut the airline's ownership of the regional carrier to 37.5% from 53.1%, and if the option is used Continental's stake will fall to 34.7%.
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|Publication:||Airline Industry Information|
|Date:||Jul 30, 2003|
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