Seven investment banks have pitched to Virgin to take it public and help it raise capital.
👉 Background: Think back to April 2020. The world was on edge with this new virus, the WAP dance was going viral on TikTok and Virgin Australia was entering voluntary administration.
👉 What happened: Since then, Virgin exited voluntary administration, returned to its first full year profit in a decade and has hinted at a return to the ASX later this year. This could even be a bigger comeback than Pamela Anderson.
👉 What else: Over the last week, seven investment banks have pitched to Virgin to take it public and help it raise capital. And this could become a major payday for investment banks, in a very soft public market.
💡 Think of investment bankers a bit like matchmakers.. except replace bride and groom with investor and company.
💡Investment banks play a crucial role in preparing a company for an initial public offering (IPO). They will:
💡 And in Virgin’s case, where they are raising upwards of $1 billion, this could become a very juicy fee for the investment bankers.
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