Virgin Australia to delay its IPO by six months subject to market conditions

Virgin Australia is planning to delay its initial public offering (IPO) and relisting on the Australian share market by about six months. Anton Tagliaferro, manager, Mutual Funds, said: “Global banking turmoil and share market volatility could force a delay. We are in a period of instability and we are seeing cracks in the financial system. In a bullish market they may have got Virgin away at a decent price, but today it will struggle,” as quoted by the Australian. Bain Capital (Bain), the owners of Virgin Australia (VA), have engaged bankers Goldman Sachs, UBS and Australian advisory firm Barrenjoey to