Wilson ponders return to Virgin register after Bain fires IPO starting gun
The last fund manager out of Virgin might be the first one back in as Wilson Asset Management admits it's considering participating in the airline's upcoming float.
Before the COVID-19 pandemic forced Virgin Australia into administration Wilson Asset Management (WAM) was one of the last fund managers still on its shareholder register. At the time, gulf carrier Etihad, Singapore Airways and Richard Branson's Virgin Group controlled around 90% of the stock, which traded only in thin volumes on the ASX.
Now, more than five years on, Wilson could be of the first fund managers to dive back in as it and dozens of other institutions peek under the engine of the new look Virgin Australia 2.0, scheduled to float on the local bourse on 24 June.
On Wednesday, founder Geoff Wilson said his team were looking at the offer “very closely” and confirmed they were currently assessing how much they would bid for come Thursday afternoon.
“[Former CEO] Jayne Hrdlicka and the whole management team have done an exceptional job turning the company around, taking costs out and growing the revenue base,” Wilson told Capital Brief.
