Porter Airlines Seeks $389 Million Valuation in IPO, Globe and Mail Says

Porter Aviation Holdings Inc. is seeking an equity valuation of about C$400 million ($389 million) in its initial public offering, the Globe and Mail reported.

The Toronto-based airline plans to raise about C$120 million by selling 30 percent of the company, the newspaper said today, citing unidentified people who have seen the marketing documents for the IPO. The shares will priced at C$6 to C$7 each, it said.

To contact the reporter on this story: Kevin Bell in Toronto at kbell2@bloomberg.net

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