• Following approval from the "Superintendencia Financiera" Colombian financial authority, both AviancaTaca Holding S.A. and its non-voting preference shares have been registered in the National Security and Exchange Register, RNVE. The regulator also authorized the public offering of one hundred million of these shares.
• The price per preference share is $5,000 Colombian pesos, equivalent to approximately USD$2.70*.
• AviancaTaca net profit for the period was approximately USD$50 million dollars*.
• The minimum investment is $5,000,000 Colombian pesos, equivalent to approximately USD$ 2,700*.
• The sale of these preference shares started on Monday March 28, 2011 and runs until Friday 15 April, 2011.
• The excellent results* obtained by the joint operation and the growth potential offered by the integrated business, are the main drivers behind the AviancaTaca Holding S.A. public offer.
• Resources resulting from the placement will be allocated to corporate expansion programs in both AviancaTaca Holding S.A. and its subsidiaries.
AviancaTaca transported nearly 18 million passengers in 2010
New competitors, the opening of new routes and more aggressive commercial strategies were constant features of the aviation market in 2010. Within this context, AviancaTaca implemented operating, commercial and service activities allowing them to maintain their position as the passenger's favorite as well as ending the period with a stronger presence in key markets.
Avianca and TACA's participation in the domestic and international market in Colombia rose to 65%, while its participation in Latin America was approximately 50%.
AviancaTaca offers the public non-voting dividend preference shares worth $500,000 million Colombian pesos, equivalent to approximately USD$250m*.
The Colombian stock market placement process will run from Monday, March 28, 2011 until Friday, 15 April, 2011 and an active participation by local and foreign investors is expected.
The Executive President of AviancaTaca Holding SA, Fabio Villegas Ramirez, said:"The opening of AviancaTaca to shareholders is an important step in the history of the Organization. From the official union in February 2010, AviancaTaca has been working incessantly to consolidate a superior service for travelers from Colombia, the wider region and the world. Today we have an excellent and comprehensive portfolio of products and services, one of the youngest fleets in the continent, multiple connection options and a high performance team. These factors, among others, allow us to introduce ourselves to the public as a profitable company with a huge growth potential."
About AviancaTaca Holding S.A.
In February 2010, after finishing the regulatory and anti-monopoly approvals stage required to finalize the announcement made in October 2009, Synergy Aerospace Corp., majority investor in Avianca, and Kingsland Holding Limited, owner of Grupo TACA, formalized the strategic union of their businesses, creating a new company called AviancaTaca Holding SA
Currently, Avianca and TACA offers passengers access to a network with direct routes to over 100 destinations in 25 countries, through four hubs located in Bogota, Lima, San Salvador and San Jose. The company currently operates a fleet of 142 latest generation aircraft.
Through codeshare agreements Avianca and TACA commercialize approximately 60 additional destinations, allowing them to extend their coverage around the globe, mainly to points in North.
America and Europe. Added to this are more than 120 interline agreements and reciprocal frequent flyer contracts with seven internationally recognized airlines.
To summarize, Avianca and TACA's participation in the domestic and international market in Colombia is 65%, while in Latin America, this rate is approximately 50%.
About the AviancaTaca shares placement in the Colombian Stock Exchange
|Issuer||AviancaTaca Holding S.A|
|Estimated placement amount:||COP $500,000 million, equivalent to approximately USD$250m dollars.|
|Number of shares offered||One hundred thousand shares (100,000)|
|Minimum investment:||Five million Colombian pesos, equivalent to approximately USD$2.70 per share.|
* Calculated according to the representative market exchange rate valid Friday March 25, 2011.
** The financial statements of AviancaTaca Holding S.A. as of September 30, 2010 are published in www.AviancaTaca.com
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