Vista Global Holding, the world's largest private-jet operator, is preparing for a stock-market listing that could raise more than $1 billion, Bloomberg reported last week.
Several European exchanges are under consideration, including Switzerland's SIX and the Borsa Italiana in Milan, according to financial publication Tippinpoint. The company has appointed Bank of America, UBS and UniCredit as advisors for the offering, which is not expected to take place before next year.
If successful, the initial public offering would value Vista at more than $10 billion. Proceeds from the sale would be used primarily to reduce the company's existing debt burden.
Vista was founded in 2004 by Swiss entrepreneur Thomas Flohr with just three aircraft. The fleet has grown to approximately 360 planes, 270 of which are directly owned by the group. The company primarily serves high-net-worth clients through flight-subscription services.
Flohr, who remains the majority owner, will see his stake significantly diluted by the recent entry of investment firm RRJ Capital and the proposed issuance of new shares in the IPO, Tippinpoint noted. Flohr is estimated to be worth between 2.5 billion and 3 billion Swiss francs and is also known for his involvement in motorsport.
The move to go public marks a significant step for Vista, one of the most prominent names in private aviation, as it seeks to strengthen its balance sheet while opening a pathway for broader institutional ownership.
