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Ryanair to float

RYANAIR HOLDINGS, the no-frills airline, said it would raise Irpounds 50m (pounds 42m) in an offering and would also seek a listing on the London Stock Exchange. The company will use the proceeds to buy 25 Boeing 737-800 aircraft.

Ryanair has appointed Morgan Stanley Dean Witter and Davy Stockbrokers as joint managers of the offering, which will be directed at institutional investors in Ireland, the UK and Continental Europe. Pricing details are expected in mid-July.