Virgin Australia moves ahead with June 2025 IPO on ASX as VGN

Virgin Australia Holdings has confirmed plans to proceed with an Initial Public Offering (IPO) and list shares on the Australian Securities Exchange (ASX) under the ticker code VGN. The announcement was made on June 6, 2025, with a prospectus filed with the Australian Securities and Investments Commission (ASIC) and ASX.

The IPO will offer AUD 236.2 million ($153.5 million) fully paid ordinary shares at AUD 2.90 ($1.88) per share, raising AUD 685 million ($445 million). The offering allows existing equity holders to partially realize their investments. Trading is expected to commence on June 24, 2025, on a conditional and deferred settlement basis. Upon completion, new investors will hold approximately 30.2% of the airline, with Bain Capital, Qatar Airways Group, Virgin Group, and Queensland Investment Corporation retaining the remaining shares.

Ahead of the IPO, Virgin Australia has appointed Peter Warne as independent non-executive chairman. CEO Dave Emerson has joined the board as managing director, and Melinda Conrad has been appointed as an independent director and chair of the Remuneration, Nomination, People and Culture Committee.

Virgin Australia, which carries 20 million passengers annually, operates over 100 aircraft on 76 routes. Rescued from administration by Bain Capital in 2021, the airline has since transformed into a streamlined, profitable carrier.

In February 2025, Qatar Airways secured approval to acquire a 25% stake, expanding the partnership to over 650 global destinations. Starting late June 2025, Virgin Australia will launch long-haul flights to Doha using Qatar Airways’ Boeing 777-300ER aircraft under a wet lease arrangement.

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