Vista Global Holding Ltd. is evaluating a European initial public offering that could bring in more than $1 billion, according to people with knowledge of the deliberations. The United Arab Emirates-based private aviation group runs services under the VistaJet and XO brands.
Management has been consulting with Bank of America Corp., UBS Group AG and UniCredit SpA as it considers a range of options for taking the business public. The talks include potential listing venues in Europe, with Milan and Zurich among the locations being weighed by the company.
Those familiar with the matter say the proposed transaction could place Vista Global's valuation at north of $10 billion if it proceeds. The offering may be staged next year, but company officials have not reached a final decision and are continuing to examine possibilities.
People involved in the discussions emphasized that deliberations remain ongoing. Key elements such as the offering's scale and the precise timing have not been fixed and could change as the process advances. The private jet operator has not publicly committed to moving forward with an IPO.
This review comes as Vista Global explores how a public listing might align with its strategic and financial objectives. While advisers have been engaged and potential markets identified, the outcome — including whether the group will ultimately pursue a European listing and the specifics of any deal — remains unresolved.
Context and next steps
Vista Global's review is at a stage where bankers and company executives are weighing options rather than executing a defined plan. Market participants should expect further developments only after the company makes a definitive determination on whether to proceed and, if so, the precise structure and timing of an offering.
Contacted parties
The company and the financial institutions named have not announced a formal transaction. As noted above, deliberations are ongoing and the details provided by people familiar with the matter could change.