Virgin’s IPO could swell north of $1 billion, giving international banks a chance to utilise their cross-border desks to find investors.
A number of investment banks are eyeing the top ticket for Virgin Australia’s potential initial public offering, a transaction that is likely buoyed by the promise of a surge in revenue for the first half of 2023.
UBS and Barrenjoey, the latter through its connection to British bank Barclays, will also bring a wealth of European investor attention to the table, the people familiar said.BofA and Barrenjoey’s access to hefty balance sheets – enabling them to underwrite large capital markets offerings – could also work in their favour when pitching Virgin for its business.
Last November, Australia’s largest carrier delivered more than $1 billion in profit thanks to a surge in demand for air travel and increased airfares as international borders reopened. Qantas’ share price has jumped almost 37 per cent in the last six months.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Virgin is serious about 2023 IPOOPINION: The once beaten down, serial loss-making Virgin Australia looks to be one of the biggest winners, after Qantas, of the recovery in domestic travel. Its 2023 IPO looks ready to fly.
Read more »
Virgin to deliver $2.5b in revenue, ex-Macquarie chairman joins boardPeter Warne is set to join Virgin Australia’s board as part of a suite of executive and board level changes as the airline targets an ASX float.
Read more »
Investment returns under threat from ‘values-based capitalism’One of the nation’s top bank analysts says Treasurer Jim Chalmers’ ambitions to remake capitalism signal a “significant change to a more interventionist approach to markets, finance and the economy.”
Read more »
Thodey: myGov investment would drive $3.2b benefitsA user audit of the myGov portal has called for a separate fund to make the online portal “smarter” and to accelerate the roll-out of an urgently needed national digital identity scheme.
Read more »
Twiggy’s Tenmile backs new medtech IPO hopeful in $25m raiseCurveBeam AI has added another billionaire to its register as part of a heavily oversubscribed pre-IPO capital raise, in which it banked $25 million ahead of a listing this year.
Read more »
Major investment in Adani Group fails to stop US$70bn slide in value following fraud allegationsAbu Dhabi’s International Holding Company to invest US$400m in Indian conglomerate as it tries to complete share sale
Read more »