Virgin Australia Holdings Limited has made its debut on the Australian Securities Exchange (ASX), symbolized by the ticker code VGN, signifying a significant milestone in the company’s evolution and expansion. The A$685 million Initial Public Offering (IPO) equates to 30.2% of shares, with the remaining stake held by existing shareholders like Bain Capital and Qatar Airways Group.
Shares were priced at A$2.90, valuing Virgin Australia at around A$2.3 billion based on the offer price. The successful IPO garnered substantial interest from both local and international investors, culminating in the company’s listing on the ASX.
In a statement, Virgin Australia’s Chairman, Peter Warne, expressed enthusiasm for this new phase, emphasizing the airline’s transformation efforts over the past five years. He highlighted the listing as a positive development for both employees and passengers, ensuring a robust and competitive airline.
CEO Dave Emerson echoed Warne’s sentiments, emphasizing the airline’s strategic clarity, streamlined operations, and dedicated team. He conveyed pride in the company’s progress and optimism for the future, aiming to solidify Virgin Australia’s position as a beloved airline in Australia.
As a token of appreciation for their contributions, eligible team members at Virgin Australia will receive a Take-Off Grant of A$3,000 in share rights, subject to a 24-month vesting period. This initiative aims to align the team’s interests with the company’s growth and success.
Virgin Australia, the second-largest airline in Australia, operates a fleet of over 100 aircraft on 76 domestic and short-haul international routes. Supported by the Velocity Frequent Flyer program, the airline offers access to more than 650 destinations worldwide through its global airline partnerships.
Recently, Virgin Australia commenced long-haul services between Australia and Doha under a wet lease agreement with Qatar Airways, further expanding its international reach and service offerings.
Currently, Virgin Australia shares are trading on a conditional and deferred settlement basis, with regular settlement trading set to commence shortly. The company’s ASX listing signifies a new chapter in its journey, marked by growth, transformation, and a commitment to offering exceptional flying experiences.
Virgin Australia’s successful IPO and ASX listing underscore its resilience, strategic vision, and dedication to providing unparalleled service to its customers. As the company embarks on this new phase, it aims to solidify its position as a leading airline in Australia and beyond, driven by innovation, customer-centricity, and a talented team dedicated to delivering excellence in air travel.
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