Frontier sets IPO terms

Frontier Group Holdings set the terms yesterday for its initial public offering (IPO). Frontier Airlines is offering 30 million shares at $19 to $21 each, that equates to a total value of $630 million if the IPO prices at the top of its range. Indigo Partners will own 83% of Frontier after the IPO. The Denver-based airline will trade on the Nasdaq under the ticker ULCC. Frontier will price its IPO on March 31 and trade from April 1, 2021. Citigroup, Barclays, Deutsche Bank Securities, Morgan Stanley, and Evercore ISI are the underwriters on the deal. Rival, Sun Country, which