Particle.news

Download on the App Store

Virgin Australia Secures Early Commitments for $685 Million IPO

The offering cuts Bain Capital’s stake to 39.4%, reflecting investor confidence in the airline’s five-year turnaround.

Overview

  • Institutional and anchor investors have backed the A$685 million share sale at A$2.90 per share, with bookbuild commitments secured ahead of schedule.
  • Bain Capital’s holding will shrink from about 70% to 39.4%, while Qatar Airways maintains a roughly 23% stake.
  • Strong demand reflects a recovery in domestic travel and expectations that the float signals robust consumer spending in Australia.
  • The IPO values Virgin Australia at A$2.32 billion on a fully diluted basis and is set to begin trading on the ASX in late June.
  • As part of its revival, the carrier plans to resume long-haul services through its partnership with Qatar Airways, bolstering its international network.