Virgin Australia is set to return to the stock market with an upcoming initial public offering (IPO) expected to launch later this month, according to a term sheet seen by Reuters.
The report says the company is aiming to raise A$685 million ($442.8 million) with its owner Bain Capital selling around 30% of its stake in the airline at a fixed price of A$2.90 per share ($1.89).
The private equity group is expected to sell 236.2 million shares in the public offering to value the company at A$2.32bn ($1.5bn).
The airline was delisted in 2020 after Bain Capital acquired the company for approximately A$3.5bn ($2.3bn) after it entered voluntary administration.