Inside Virgin Australia’s pitch to kick off the airline’s IPO
Investors said the maiden pitch was light on numbers – likely deliberately so – with financial statements and forecasts not expected until next month, at the earliest.
Virgin Australia will be “simpler”, “more focused” and “more balanced” should it return to the ASX boards after nearly five years in private equity hands, and will be more disciplined in how it spends shareholders’ money.
Fund managers filed into investment bank UBS’s Chifley Tower offices in Sydney to hear Virgin’s maiden IPO pitch on Wednesday, and were met with a “this time it is different” pitch about how the airline had changed since it went broke in the COVID-19 pandemic.
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Anthony Macdonald is a Chanticleer columnist. He is a former Street Talk co-editor and has 10 years' experience as a business journalist and worked at PwC, auditing and advising financial services companies. Connect with Anthony on Twitter. Email Anthony at a.macdonald@afr.com
