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Painful private market discounts the key to unlocking IPOs

It is ironic that Virgin launched its listing on the same day ASIC released 50 submissions into its public-private markets review.

Australian IPOs live and die on price – everything else is background noise.

Want to list a business? Forget about rubbery private-market valuations and offer it up at a material discount to a listed rival.

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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

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    Original URL: https://www.afr.com/chanticleer/why-bain-s-virgin-can-cross-the-public-private-markets-divide-20250604-p5m4vi