LATIN AMERICA/US. Global airport operator Corporación América Airports S.A. launched its initial public offering (IPO) on the New York Stock Exchange on 1 February, raising over US$485 million.

Shares opened at US$17 for the airport company but the pricing closed at US$16.50, down -2.9%.

The company, which is owned by Argentine billionaire and entrepreneur Eduardo Eurnekian, sold 11.9 million shares while a shareholder unloaded 16.7 million, cumulatively raising over US$485 million.

Corporación América Airports, which reported $1.2 billion in revenue for the first nine months of 2017, operates 52 airports in Latin America and Europe.

These include 37 of Argentina’s 56 airports, comprising the country’s two largest – Ezeiza International and Aeroparque Jorge Newbery Airfield, both in Buenos Aires.

The company also holds airport concessions in Armenia, Uruguay, Ecuador, Peru, Brazil and Italy.

For the nine-month period ended 30 September 2017, the company’s airports served 57.1 million passengers. Around 35.9% of those were international passengers, 53.4% domestic and 10.6% transit.