Virgin Australia Holdings Limited has officially announced its plan to go public and list on the Australian Securities Exchange (ASX) under the ticker code VGN. This decision marks a significant milestone for the country’s second largest airline group, which aims to offer value and choice to over 20 million passengers yearly. Under the ownership of Bain Capital, Virgin Australia operates a fleet of more than 100 aircraft across 76 routes, serving 38 destinations domestically and internationally.
The airline’s strategic move to list on the ASX involves the offer of 236.2 million fully paid ordinary shares at A$2.90 per share, with existing equity holders looking to realize part of their investment through a capital raise of A$685 million. Post-IPO, new investors are expected to hold a 30.2% stake in the company, while the remaining shares will be retained by current stakeholders like Bain Capital, Qatar Airways Group, Virgin Group, and Queensland Investment Corporation.
Virgin Australia’s IPO is accompanied by changes to its Board, including the appointment of Peter Warne as Independent, Non-Executive Chairman. With a background as a former Chair of Macquarie Group Limited, Warne’s leadership is set to steer Virgin Australia through its transition into a publicly listed entity. The airline’s CEO, Dave Emerson, expressed confidence in the company’s streamlined business model and dedicated team, emphasizing a clear strategy to enhance customer experiences and expand the award-winning Velocity frequent flyer program.
As part of the IPO process, Reunion Capital Partners serves as the independent financial adviser, while Goldman Sachs, UBS, and Barrenjoey act as Joint Lead Managers, with legal counsel provided by Gilbert + Tobin. Trading of Virgin Australia shares on the ASX is scheduled to commence on 24 June 2025, subject to conditional and deferred settlement terms initially.
Commenting on the listing, Chairman Peter Warne commended the airline’s transformation efforts and global partnerships, positioning Virgin Australia for sustainable growth in the aviation sector. CEO Dave Emerson reiterated the company’s commitment to becoming Australia’s preferred airline and expanding its market presence through innovative offerings and customer-centric services.
Virgin Australia’s decision to go public aligns with its vision to capitalize on market opportunities and drive long-term success in the competitive airline industry. By leveraging its strong brand reputation, strategic partnerships, and loyal customer base, the airline aims to create value for investors and stakeholders alike as it embarks on its next chapter as a publicly listed company.
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