Virgin's owner, U.S. private equity group Bain Capital said
in January it would explore re-listing the airline that it
bought in 2020 after it was placed in voluntary administration,
the closest Australian equivalent to Chapter 11 bankruptcy.
The Australian Financial Review reported the airline, a
rival to Qantas Airways Ltd in the domestic market, was
expected to seek a valuation of at least A$3 billion ($2.07
billion) upon listing.
Bain Capital, declined to comment on the IPO appointments,
while Virgin referred requests for comment to Bain.
UBS, Goldman Sachs and Barrenjoey declined to comment.
The listing of Australia's second-biggest carrier would
likely be one of the country's largest IPOs in 2023 after
capital markets activity plunged last year amid global financial
market uncertainty.
Bain said last month its intention would be to retain a
significant stake if an IPO went ahead.
($1 = 1.4470 Australian dollars)
(Reporting by Scott Murdoch in Sydney; Editing by Tom Hogue and
Jamie Freed)
(Adds Bain comment, AFR report on valuation)
By Scott Murdoch
SYDNEY, Feb 16 (Reuters) - Virgin Australia's planned
initial public offering (IPO) will be led by joint managers UBS , Goldman Sachs and Barrenjoey, according to a
source with direct knowledge of the matter.
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