Frontier Airlines raises $ 570 million initial public offering and begins trading today

Frontier Airlines raised $ 570 million in an IPO. This is the youngest U.S. airline 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.