Your opportunity to buy Virgin Australia shares

Fancy owning shares in Virgin Australia? You will get that chance later this month. 

Virgin Australia Holdings Limited (Virgin Australia) has confirmed its long-rumoured intention to proceed with an Initial Public Offering (IPO) and list on the Australian Securities Exchange (ASX) under the ticker code VGN. 

The airline said: "A Prospectus has today been lodged with the Australian Securities and Investments Commission (ASIC) and filed with the ASX."

Virgin Australia is the country’s second-largest airline group and has been revitalised under the ownership of Bain Capital. 

It operates a fleet of more than 100 aircraft on 76 routes to 38 destinations across its domestic and short-haul international airline business. 

The IPO is comprised of an offer of 236.2 million fully paid ordinary shares at an offer price of $2.90 per share, raising A$685 million to allow certain existing equity holders the opportunity to realise part of their investment in the company.

On completion, investors participating in the offer are expected to hold 30.2% of shares on issue, with the remainder being held by existing investors, which include Bain Capital, Qatar Airways Group, Virgin Group, and Queensland Investment Corporation.

“After making significant progress in Virgin Australia’s transformation and with the backing of leading global airline Qatar Airways Group as a strategic investor, we believe it is now appropriate for the business to transition to a publicly listed company,” said Virgin Australia chairman Peter Warne. 

“This provides an opportunity for new investors to share in the success of Virgin Australia as the airline enters its next phase.

“I commend all those involved in orchestrating Virgin Australia’s remarkable turnaround and setting the business up for long-term success.”

* Virgin Australia currently expects to list on the ASX on Tuesday, June 24, 2025. 

Wine producer agrees to cough up millions

Treasury Wine Estates, which owns brands including Penfolds and Seppelt, has just suffered a legal whopping.

A $65 million settlement has been reached between Slater and Gordon Lawyers, Maurice Blackburn Lawyers and Treasury Wine Estates on behalf of shareholders who sustained losses due to Treasury’s conduct when it downgraded its forecast earnings for 2020.

The plaintiffs alleged that Treasury had engaged in misleading or deceptive conduct in breach of Australian Consumer Law and breached its continuous disclosure obligations under the ASX Listing Rules.

Slater and Gordon and Maurice Blackburn filed class actions against Treasury in relation to that contravening conduct that were consolidated in late 2020 and have since then jointly represented the joint plaintiffs, and investors, who lost money when Treasury downgraded its earnings guidance for 2020 on January 28, 2020.

The class action alleged Treasury engaged in misleading or deceptive conduct and breached its continuous disclosure obligations based on the earnings guidance it provided the market in 2018 and 2019.

A seven-week trial was due to commence this week before Justice Waller in Victoria’s Supreme Court, to consider those issues and ultimately determine Treasury’s liability to affected Treasury shareholders.

Slater and Gordon’s lead plaintiff Brett Stallard said he was “pleased that a settlement had been reached on behalf of investors who lost money as a result of result of Treasury’s earnings downgrade in 2020”.

Slater and Gordon Class Actions Principal Lawyer Mitchell Coidan said: “We are pleased to have been able to reach this outcome for group members on the eve of a trial listed for seven weeks, following hard-fought litigation with Treasury.

"The outcome means that group members who sustained losses as a result of Treasury’s allegedly contravening conduct, will receive compensation in the short term. We are glad to have achieved this result for affected group members, without the need for a protracted court process.”

The settlement remains subject to court approval and Treasury has made no admission of liability.