Shareholders in Mexico's Volaris set stock offer price at US$16 apiece

Some shareholders of Mexican low-cost airline Volaris are selling stock for US$16 per American Depositary Share in an international offer that will close on Nov. 16, the company said on Tuesday.

The offer includes 99 million shares, with an overallotment option of up to 9.9 million shares, Volaris said in a filing to Mexico's stock exchange, expanding an offer originally announced on Monday.

Volaris said on Monday that shareholders would sell 90 million shares, plus an overallotment of 9 million shares.