Sirius Aircraft Leasing Fund, managed by a team headed by former Ryanair (LON:RYA) CFO Howard Millar, has pushed back the planned timetable for its initial public offering (IPO).
The company, which helps airlines finance and acquire aircraft, said on Monday it now expected admission to trading on the London Stock Exchange to take place by December 5.
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In October, the aviation leasing firm said it would raise US$250 million through an IPO in London, which was expected to take place earlier this month.
The firm intended to issue the shares valued at US$1.00 per share, implying that around 250mln shares would be issued. A programme of planned share placings over the coming year will raise up to US$300m more, the company said.
Sirius will primarily target opportunities in mid-life - eight to 12 years old - short-haul aircraft (Boeing 737and Airbus A320 family) which it believes can deliver strong returns. The company will also deploy capital to generate returns from aircraft assets.