Virgin Australia opens 8% higher at $3.13 after IPO
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More news: Virgin Australia shares jumped around 8% during its first few minutes of trading, following its highly-anticipated IPO today.
Virgin shares, which began trading at midday AEST, were up 7.9% to $3.13 at 12:30pm.
Qantas shares climb as Virgin Australia begins trading
The news: Qantas was one of the best performing ASX 200 companies in morning trade, as rival airline Virgin Australia started trading on the local exchange.
The numbers: Qantas shares were up 3.9% to $10.48 at midday AEST.
The context: According to a prospectus lodged with ASIC and the ASX earlier this month, Virgin's IPO is comprised of an offer of 236.2 million shares at a price of $2.90 per share, raising $685 million and valuing the company at $2.3 billion.
