The breakdown sent around for Virgin’s $2.3 billion IPO (which includes a $685 million capital raising) on Wednesday partially revealed who owned how much of the airline as it stands.
Bain Capital holds 69.1 per cent (which will be sold down), Qatar Airways is on 23 per cent, while the remaining 7.8 per cent is held by Virgin’s management and “current and former employees”. At the $2.90 per share, Virgin’s staff are sitting on what may soon be worth $180 million in shares.
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Mark Di Stefano is Rear Window columnist, based in the Sydney newsroom. He previously worked at BuzzFeed, the Financial Times and The Information before joining the Financial Review as a media and tech correspondent. Connect with Mark on Twitter. Email Mark at mark.distefano@afr.com
