The ASX is on fire, Qantas is hot, IPOs are back. Where’s Virgin?
If Bain doesn’t have the guts to take Virgin to investors in the next few weeks, you have to ask if it is fair dinkum about returning the business to the ASX.
Did you see Qantas Airways shares quietly finish last week at an all-time high? Bain Capital certainly would have. If Qantas keeps running, it’s the boost that could finally get Virgin Australia’s float off the tarmac and in front of investors.
It sounds crazy given the market’s roller coaster ride in the past two months and the IPO market’s finickiness (particularly in Australia), but there is confidence in the Virgin camp that this deal has a pulse. Someone set a June 30 deadline and the push is now on.
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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
