Virgin Trains USA announced the launching of an initial public offering of 28,334,000 shares of common stock. The listing on the Nasdaq Global Select Market is expected to rise to USD 17 – 19 per share with Virgin Trains USA reaching a value of USD 3.2 billion.
In addition, Virgin Trains intends to grant the underwriters a 30-day option to purchase up to an additional 4,250,100 shares at the initial public offering price, less underwriting discounts and commissions. This would bring an IPO rising at USD 619 million.
Virgin Trains USA intend to rise funds to realise its proposed projects. Until now, the company has invested USD 2 billion. In November, a strategic partnership with Brightline, Florida’s rail private intercity company. The two companies, Brightline and Virgin Group, have teamed up to reimagine Brightline as Virgin Trains USA.