Wizz Air was under the cosh on Tuesday after US private equity firm Indigo Partners sold just over 7.69 million shares in the budget airline in a placing.
The shares were sold to institutional investors by way of an accelerated bookbuild at 5,200p each, raising gross proceeds of around £400m.
Following completion of the placing, Indigo will hold 7.3m shares in Wizz Air, down from 15m, or a stake of 17.5%.
At 0820 GMT, Wizz shares were down 6.3% at 5,160p.
