$350m Virgin equity plan in full flight again

A Virgin Airlines plane passes over Coffs lookout.
A Virgin Airlines plane passes over Coffs lookout. Trevor Veale

VIRGIN Australia will go ahead with a $350 million equity raising after the Takeovers Panel declined an action against the move by the Australian Shareholders Association.

The airline's equity raising plans were announced in mid-November and would see three foreign airlines - Air New Zealand, Etihad Airways and Singapore Airlines - lift their collective stake in the company by almost 8 per cent to near 70 per cent.

The Australian Shareholders Association took action against the move over concerns on a limit placed on smaller retail investors, who will only be able to apply for 40 per cent of their entitlement.

The organisation  sought orders from the Takeovers Panel removing the cap for retail investors and blocking Etihad from lifting its stake in Virgin.

In a statement to the ASX today, Virgin welcomed a decision by the Takeovers Panel to decline the request.

Topics:  business virgin australia

Stay Connected

Update your news preferences and get the latest news delivered to your inbox.

Circa's new performance is a Peepshow

SHOW: Peepshow will premiere on the Northern Rivers.

The new production will have a Northern Rivers world premiere

Be the first to see controversial animated children's film

FURRY FRIENDS: Mopsy (Elizabeth Debicki), Flopsy (Margot Robbie), Benjamin, Bea (Rose Byrne), Peter Rabbit (James Corden) and Cottontail (Daisy Ridley) in Columbia Pictures' PETER RABBIT.

Advanced screening of Peter Rabbit in Lismore this weekend

Rosanna has designs on female taboo

Artist Rosanna Pimm uses 3500 porcelain tampons to created her large scale performance installation  Riots of Passage in The Quad  as part of The Lismore Women's Festival on International Women's Day. Laying down and de-constructing the mandala structure symbolises the impermanence of the menstrual cycle and an end to female inequality in the world.

Rosanna has designs on female taboo

Local Partners