Virgin Australia is to go public in June after a lengthy 5-year sabbatical from the Australian Stock Exchange (ASX).
As reported by the AFR, the company met with investors on Tuesday for a roadshow initially described as a business update. Here, it outlined plans to raise capital in May and then go public in June.
Unlike 2023, the last time Virgin attempted to float, this time the business has converted its structure into a public company.
Virgin Australia is currently majority-owned by Bain Capital, with Queensland Investment Corporation and Virgin Group acting as minority investors.
The airline was delisted from the ASX in 2020 after falling into administration at the start of the Covid-19 pandemic. It previously attempted to relist in 2023, but after holding an investor roadshow, however, those plans were cancelled due to market conditions. Guzman y Gomez and DigiCo were the only two companies to list on the ASX in 2023.
Since then, Bain Capital has made several changes to the airline, including selling a 25 per cent stake in Virgin Australia to Qatar Airways. New CEO Dave Emerson was recently appointed after Jayne Hrdlicka stepped down last month.
Bain Capital and Virgin Australia declined to comment.
