Avolon board chooses IPO over sale option

Irish-based aircraft leasing company Avolon expects its initial public offering to be priced at between $21 and $23 per common share.

At the top end of the expected price range, the Dublin-headquartered company will be valued at $1.86bn (€1.48bn) and the IPO will raise about $314m (€251m).

All of the 13.6m shares in the offering are being sold by selling shareholders, according to a regulatory filing made yesterday.