Virgin Australia has seen shares soar by 11.4% following its return to the Australian Securities Exchange (ASX).
After more than four years’ absence, Virgin shares relisted on the ASX on June 24, 2025, with stock rising to A$3.23 ($2.10) by market close.
The A$685 million ($445.6 million) Initial Public Offering (IPO) represents 30.2% of shares on issue, with the remainder retained by the pre-existing ownership group including Bain Capital, Qatar Airways Group, Virgin Group and Queensland Investment Corporation.
Shares were offered at A$2.90 ($1.89), giving Virgin Australia a market capitalisation of approximately A$2.3bn ($1.49bn) based on the offer price.
The airline was delisted from the ASX in 2020 following debts and losses. Having entered administration, it was bought by US-based Bain Capital.
Australia’s second largest airline group said the listing follows the successful completion of the offer period and strong interest from domestic and international institutional and retail investors.
“Virgin Australia is entering its next phase with a clear strategy, simplified operating and commercial models, and an amazing team of people who bring Wonderful to flying every day,” said Dave Emerson, Virgin Australia CEO. “We are proud of how far we have come and energised by the opportunities ahead as we continue to realise our ambition of being Australia’s most loved airline.”
Shares in Virgin Australia are currently trading on a conditional and deferred settlement basis, with normal settlement trading expected to begin on June 26, 2025.