Bravofly Rumbo seeks to raise €110m through IPO

Bravofly Rumbo seeks to raise €110m through IPO

Online travel agency Bravofly Rumbo Group plans to list shares in Switzerland seeking to raise €110 million.

The Swiss-based firm, which operates websites Bravofly, Rumbo, Volagratis and Jetcost, recorded revenue last year of €123.2 million and operating profit of €22.8 million.

The listing, planned for the summer, will help raise funds for more international expansion.

The company acquired French meta-search site Jetcost in December a year after the acquisition of Spanish OTA Rumbo.

The firm’s founders will remain the largest shareholder group following the initial public offering, Reuters reported.

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