I just noticed a takeover of an airline and the activities surrounding it looks suspicious.
The structure of the airline is X(Parent Company) Y(Subsidiary of X) and Z(Subsidiary of Y). Z is the operating airline. The IPO was done for Y and 8.1 million was injected by an airline and its subsidiary which formed 1 hour after the IPO. A second airline which had a mere 2% more shares than the newly formed company and its subsidiary became the owner of the airline
Is this right or something fishy going on here? Was the airline floated only to inject money from the newly formed airline and to do handover to a different airline?