Earlier this week, parent company Bain Capital gave the green light for its relisting from 24 June.
Virgin Australia has confirmed today that it will proceed with an IPO on the Australian Stock Exchange (ASX), releasing a prospectus with the Australian Securities and Investments Commission (ASIC) and filed with the ASX.
According to a statement from the carrier, the IPO will comprise an offer of 236.2 million fully paid ordinary shares at an offer price of $2.90 per share with a $685 million raise, as flagged by Travel Daily earlier in the week.
The news is followed by changes in the Board, including the appointment of Peter Warne as Independent Non-Executive Chairman and Dave Emerson as Managing Director of the Board, who joined the airline as CEO in March.
Other new members include Company Director Melinda Conrad and Pippa Downes, while Mark Drusch, Barnaby Lyons and Ray Hass have concluded their tenures.
“After making significant progress in Virgin Australia’s transformation and with the backing of leading global airline Qatar Airways Group as a strategic investor, we believe it is now appropriate for the business to transition to a publicly listed company,” said Virgin Australia Chairman Peter Warne.
More details in today’s issue of Travel Daily.