SYDNEY (Reuters) -Virgin Australia shares opened 8.3% higher on Tuesday after raising A$685 million ($439 million) in an initial public offering, a transaction dealmakers hope will revive a flat-
Virgin Australia shares surge 8.3% on trading debut
SYDNEY (Reuters) -Virgin Australia shares opened 8.3% higher on Tuesday after raising A$685 million ($439 million) in an initial public offering, a transaction dealmakers hope will revive a flat-lining listings market.
The airline sold 236.2 million shares at A$2.90 each, valuing it at A$2.32 billion on a fully diluted basis.
The stock began trading at A$3.14, outpacing a 1.2% gain in the Australian benchmark S&P/ASX200.
(Reporting by Scott Murdoch; Editing by Jacqueline Wong)
