Business Services Industry
STRONG ASX DEBUT SEEN FOR VIRGIN BLUE HOLDINGS.
AsiaPulse News, December, 2003
MELBOURNE, Dec 8 Asia Pulse - Shares in Virgin Blue Holdings Ltd (ASX:VBA) were expected to take off on its debut on the Australian Stock exchange today, with analysts predicting increases of up to six per cent on its issue price.
After closing more than 10 times oversubscribed, Virgin Blue, owned by Sir Richard Branson's Virgin Group and Australian transport logistics company Patrick Corp (ASX:PRK), have set the final price for shares in its initial public offering at $2.25 each giving the company a market capitalisation of $A2.3 billion ($US1.69 billion).
CommSec senior analyst Craig James said the stock had grabbed investor imagination was expected to debut at a "reasonable premium" before hitting between $2.35 and $2.40 a share during the day.
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