RICHARD Branson's US airline
The flotation comes almost immediately after the airline made it into the black - it posted a
The profit was made off revenues of
And it comes in the midst of a flotation boom - 25 initial public offerings (IPO) are expected to price this week, according to Dealogic, making it the busiest week since
No details of the scale of the airline's IPO have been published, either in terms of the capital to be raised or the proportion of shares being sold. Branson owns a 22 per cent stake in the company, partly be-cause US laws restrict foreigners to holding a maximum of 25 per cent of a domestic airline.
Most of the remainder is owned by hedge fund
The airline is based in
However, its full list of flights covers 22 cities across the US and
Virgin's brand covers other airlines, such as
BRANSON'S CHEQUERED FLOTATION HISTORY ? The Virgin brand's most recent experiment in public listings performed well -
n. ? But that was not the result of a Virgin flotation.
? He hoped to raise funds and perform strongly as a public company, but the City was less keen on his personality-driven business style, and Branson took the firm private again.
n. ? He owns around half of
? Branson is expected to float the lender, possibly as soon as next year, in his next planned deal with City stock market investors.
Most Popular Stories
- Toxic Algae Threatens Florida Fishing, Tourism
- Hispanic Groups Lead Voter Registration Drive
- Fed Signals It Will Keep Key Rate at Record Low
- Eva Mendes Gives Birth to a Baby Girl
- Plus-Size iPhones Live Up to The Hype
- FedEx Adding 50,000 Holiday Jobs
- Stocks Rise Before Fed Statement
- Occupy Wall Street Buys Up Student Debt
- Cool Features on Today's New iOS 8
- Kohl's Hiring 67,000 for the Holidays