According to a source, Bain Capital’s Virgin Australia airline aims to debut on the ASX for A$1 billion in November.
In October 2021, GQG Partners raised A$1.18 billion in its IPO.
U.S.-based In January, Bain said it would consider relisting Virgin, which it bought for A$3.5 billion ($2.45 billion) plus liabilities in 2020 after it was placed in voluntary administration, the closest Australian equivalent to Chapter 11 bankruptcy.
The unnamed source stated the private equity company hopes to conclude the transaction in November.
The insider said Bain may sell 30% to 40%.
Management and analyst briefings with potential investors will determine Virgin’s IPO pricing.
Reuters reported Virgin Australia sought A$1 billion in the deal.
