Virgin Australia shares take off, rallying 11 per cent as airline returns to trade on ASX
Virgin Australia shares have rallied as the airline has officially returned to the stock market, marking one of the most anticipated listings of the year and the latest chapter in its turbulent journey.
Virgin’s initial public offering (IPO) was priced at $2.90 per share, raising $685 million for the company.
After the company resumed trade on the Australian Securities Exchange (ASX) on Tuesday afternoon, Virgin shares ended 11.4 per cent higher, at $3.23.
After collapsing into administration at the height of the COVID-19 pandemic in 2020, Virgin was rescued by US private equity giant Bain Capital and delisted from the stock exchange.
Now the airline has taken off on the ASX once more, with a leaner business model, a new shareholder mix and…
