Portugal's TAP airline expected to float shares soon -Euronext

Portugal’s TAP-Air Portugal is preparing the ground for an expected IPO of its shares, the head of listings at Euronext Lisbon bourse said Thursday. TAP, which was partly privatised in 2015, is 50% owned by the Portuguese state. Private consortium Atlantic Gateway, led by Brazilian-US airline mogul David Neeleman, has a 45% stake. TAP employees hold the remaining 5%. “TAP is already doing the preparatory work, communicating with the market, presenting its results, which is not very common for privately owned companies,” Filipa Franco said. She said a four-year debenture loan worth at least E50m that the company plans to list on Euronext on June 24 “will be a rehearsal for TAP so within some time, not very long, it can carry out its IPO.” She added that she was in regular contact with the company. TAP declined to comment but officials from the airline have previously said they were considering an IPO at some point in the future. <br/>