Street Talk

Bain Capital seals Virgin’s ASX relisting as fundies commit to IPO

Sarah Thompson, Kanika Sood and Emma Rapaport

Updated Jun 5, 2025 – 5.53pm, first published at 11.37am

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Virgin Australia is ready to list on the ASX after Bain Capital’s bankers secured commitments for the $685 million IPO hours earlier than they had first expected, bringing forward a bid deadline for the deal to Thursday morning.

Street Talk understands Virgin has obtained commitments from institutional investors across Australia and Asia-Pacific, sealing Bain’s big payday from the airline it bought out of administration during the COVID-19 pandemic.

Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones.

Kanika Sood is a journalist based in Sydney who writes for the Street Talk column.

Emma Rapaport is a co-editor of the Street Talk column. Prior to that, she was a markets reporter at The Australian Financial Review.