Air Astana commissions new flight training centre
13th September 2023
Virgin Australia is set to return to the stock market with an upcoming initial public offering (IPO) expected to launch later this month, according to a term sheet seen by Reuters.
The report says the company is aiming to raise A$685 million ($442.8 million) with its owner Bain Capital selling around 30% of its stake in the airline at a fixed price of A$2.90 per share ($1.89).
The private equity group is expected to sell 236.2 million shares in the public offering to value the company at A$2.32bn ($1.5bn).
The airline was delisted in 2020 after Bain Capital acquired the company for approximately A$3.5bn ($2.3bn) after it entered voluntary administration.