Frontier Airways raises $ 570 million preliminary public providing and begins buying and selling right this moment

The Frontier Airlines Airbus A320 takes off from Los Angeles International Airport on August 27, 2020 in Los Angeles, California.

AaronP | Farmer Griffin | GC Images | Getty Images

Frontier Airlines raised $ 570 million in an IPO. This is the youngest U.S. carrier to take this path as the industry sees signs of recovery, the company said late Wednesday.

The Denver resident Budget Carrier sold 30 million shares at $ 19 each, the low end of the target range, which translates into a valuation of around $ 4 billion.

Frontier begins trading on Thursday under the ticker ULCC, the initials of the ultra-low-cost carrier, on the Nasdaq Global Select Market.