Copa says Continental Airlines sold remaining stake in company
05.21.08, 2:32 PM ET
SAN FRANCISCO (Thomson Financial) - Copa Holdings S.A. said Wednesday that Continental Airlines Inc. has sold its remaining interest in Copa in a registered equity offering.
Continental sold about 4.38 million Class A common shares of Copa at $35.75 a share, resulting in net proceeds of $149.8 million, the company said.
None of Copa's other shareholders sold their shares in the offering
and Copa didn't receive any of the proceeds from the offering, the company noted.
U.S.-listed shares of the Panamanian carrier were down $1.76, or about 5.2%, at $32.18.
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