Shares of parent company Frontier Airlines fell 0.8% on their first day of trading Thursday.
The low-budget carrier said on Wednesday night it had raised $ 570 million in an initial public offering, the latest U.S. airline to go public as the industry began to see signs of recovery from the pandemic of Covid.
Denver-based Frontier sold 30 million shares at a price of $ 19 each, the low end of the target range, earning it a valuation of around $ 4 billion.
The shares began trading under the symbol ULCC, the initials of the ultra-low-cost carrier, on the Nasdaq Global Select Market.
Frontier filed for publication last month after scrapping plans over the summer as the industry battled the pandemic.
Another low-budget carrier, Sun Country Airlines, went public last month.
Correction: An earlier version of this article incorrectly declared the first day of trading in a bullet.