Bain Capital seeks advice on Virgin Australia’s IPO

Virgin Australia is expected to return to the Australian Stock Exchange, with Bain Capital announcing it is considering restarting the airline.

Private equity giant Bain Capital has said it will “seek advice” on a possible future IPO and relisting of the country’s second-largest airline, but has not yet made a decision to go public.

Virgin boss Jayne Hrdlicka.

Virgin boss Jayne Hrdlicka.Credit:Dan Peled

Bain partner Mike Murphy said in a statement Monday the airline had accomplished an impressive transformation since it was snatched from administration in 2020 and was almost doomed.

“Over the coming months we will consider how best to position Virgin Australia for continued growth and long-term prosperity,” Murphy said.

“Prior to COVID-19, Virgin Australia had a proud history as a public company. While there is no firm timetable at this time, Bain Capital would welcome an IPO at some point in the future if public market investors would join as shareholders in this great Australian company.”

Murphy confirmed that Bain would retain a significant stake should the airline go back to the ASX.

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“Bain Capital has a long-term commitment to supporting the growth and sustainability of Virgin Australia,” he said.

If a decision is made to go public, securities will only be offered pursuant to a prospectus filed with the Australian Securities and Investments Commission.

https://www.smh.com.au/business/companies/bain-capital-to-seek-advice-on-virgin-australia-float-20230116-p5ccs2.html?ref=rss&utm_medium=rss&utm_source=rss_business Bain Capital seeks advice on Virgin Australia’s IPO

Brian Lowry

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