AviancaTaca is seeking to raise around $250 million in an initial public offering (IPO), The Wall Street Journal reports. The Colombian air carrier plans to list the company on the Bogota bourse.

The Bogotá-based company intends to use the proceeds from offering to fund expansion projects. The public offering by AviancaTaca, which is controlled by Bolivian-born businessman German Efromovich, represents 11.1% of the company.

Click here for the story from The Wall Street Journal.