NOT FOR DISTRIBUTION OR RELEASE IN THE UNITED STATES
Sydney, Australia 24 June 2025: Virgin Australia Holdings Limited (Virgin Australia) has landed at the Australian Securities Exchange (ASX), listing under the ticker code VGN and marking a major milestone in the company’s transformation and growth.
The A$685 million Initial Public Offering (IPO) represents 30.2% of shares on issue, with the remainder retained by the pre-existing ownership group including Bain Capital, Qatar Airways Group, Virgin Group and Queensland Investment Corporation. Shares were offered at A$2.90, giving Virgin Australia a market capitalisation of approximately A$2.3 billion based on the offer price.
The listing follows the successful completion of the offer period and strong interest from domestic and international institutional and retail investors.
Commentary from Virgin Australia Chair, Peter Warne:
“Today marks the start of an exciting new chapter for Virgin Australia as a publicly listed company,” he said.
“Our listing reflects the remarkable work undertaken over the past five years to transform the airline and position it for long-term success. It is great news not just for our people, but for travellers who rely on Virgin Australia being a strong, resilient and competitive airline.”
Commentary from Virgin Australia CEO, Dave Emerson:
“Virgin Australia is entering its next phase with a clear strategy, simplified operating and commercial models, and an amazing team of people who bring Wonderful to flying every day,” he said.
“We are proud of how far we have come and energised by the opportunities ahead as we continue to realise our ambition of being Australia’s most loved airline.”
Recognising their contribution to Virgin Australia’s success, eligible Virgin Australia team members will be awarded a Take-Off Grant of A$3,000 in share rights, which will convert to ordinary shares after a 24-month vesting period provided they remain employed by the Virgin Australia Group.
Virgin Australia is the country’s second-largest airline group, operating a fleet of more than 100 aircraft on 76 domestic and short-haul international routes. The airline is supported by Velocity Frequent Flyer, one of the largest loyalty programs in Australia. Through its partnerships with global airlines, customers can travel to more than 650 destinations worldwide. This month, Virgin Australia has also commenced its long-haul services between Australia and Doha under a wet lease arrangement with Qatar Airways.
Shares in Virgin Australia are currently trading on a conditional and deferred settlement basis, with normal settlement trading expected to begin on 26 June 2025.
ENDS.
Important Notice and Disclaimer
This release does not constitute an offer to sell, or the solicitation of an offer buy, securities in the United States or in any other jurisdiction in which such an offer would be unlawful. Any securities described in this release have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act") or the securities laws of any state or other jurisdiction of the United States and may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act and appliable securities laws of any state or other jurisdiction of the United States.
