Airline group Abra to submit draft registration statement for US IPO

Abra Group, which controls Brazilian airline Gol GOLL53 and Colombia's Avianca, intends to confidentially submit a draft registration statement for a proposed initial public offering in the United States, it said on Wednesday.

Abra Group said that the draft registration statement is for an offer of ordinary shares, but added the deal is subject to market conditions and conclusion of the review process.

Gol recently announced plans to go private as part of a corporate reorganization process. The Brazilian airline said it intends to delist shares from Sao Paulo-based stock exchange B3.

Abra was created in 2022, when Gol and Avianca announced they were combining under the roof of a common holding company.

($1 = 5.4574 reais)