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Bain Capital considering Virgin Australia IPO

Bain Capital is considering re-listing its Virgin Australia airline – Australia’s second biggest carrier – in what would be one of the country’s largest initial public offerings (IPOs) of the year, according to a report by Reuters. 

Bain Capital is considering re-listing its Virgin Australia airline – Australia’s second biggest carrier – in what would be one of the country’s largest initial public offerings (IPOs) of the year, according to a report by Reuters. 

Bain Capital is reportedly planning to retain a significant holding in the business as a part of any IPO.

The report cites a statement from Bain as confirming that the private investment manager is seeking advice on the timing and structure of any return to the Australian Securities Exchange as well as highlighting that a final decision on whether to proceed or not has yet to be made.

Unnamed sources have confirmed that boutique firm Reunion Capital has been appointed as a financial advisor on the deal, and will oversee the appointment of investment banks to lead any future IPO.

Bain bought Virgin Australia for AUD3.5 billion ($2.45 billion) including liabilities in 2020 after the airline was placed in voluntary administration. Creditors approved the buyout in September 2020.

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