Transportation

Continental Unloading Copa Shares (CPA, CAL)

Copa Holdings, S.A. (NYSE: CPA) announced today that it has filed a registration statement for a proposed offering of 3,977,300 Class A non-voting shares of Copa Holdings by selling shareholder Continental Airlines, Inc. (NYSE: CAL).

Morgan Stanley will be the sole book-running manager, while UBS Investment Bank will be the joint lead manager of this offering.  The underwriters also have an over-allotment option to purchase up to an additional 397,700 shares from Continental Airlines.

Continental will hold about 1.3% of the outstanding Class A shares if the underwriters do not exercise the over-allotment option; and it will not own any more Class A shares if the underwriters exercise the full over-allotment option. 

Copa Holdings will not receive any proceeds from the offering.

You can join our open email distribution list to hear about other IPO’s, secondary offerings, special financings, mergers, spin-offs, and other special situations.

Jon C. Ogg
May 12, 2008

If you’re one of the over 4 Million Americans  set to retire this year, you may want to pay attention.

Finding a financial advisor who puts your interest first can be the difference between a rich retirement and barely getting by, and today it’s easier than ever. SmartAsset’s free tool matches you with up to three fiduciary financial advisors that serve your area in minutes. Each advisor has been carefully vetted, and must act in your best interests. Start your search now.

Don’t waste another minute; get started right here and help your retirement dreams become a retirement reality. (sponsor)

Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.