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

$350m Virgin equity plan in full flight again

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.



Wanderers go on goal-scoring spree in CQ League

Wanderers go on goal-scoring spree in CQ League

Impressive first half has them up by six at half-time

Bluebirds fail to take their chances in Round 15 clash

Bluebirds fail to take their chances in Round 15 clash

Team plays out fifth draw of the season against Southside

APPEAL: It's time to fix CQ's pet over-breeding problem

APPEAL: It's time to fix CQ's pet over-breeding problem

A sad fate awaits our pets if they aren't desexed or adopted.

Local Partners