Bain Capital explores Virgin Australia IPO

(Reuters) -Bain Capital is exploring the listing of its Virgin Australia airline on the Australian Securities Exchange, according to a statement from the private equity firm on Monday said.

The firm said it would seek advice on the best timing and structure to "return Virgin Australia to the ASX".

Bain bought Virgin Australia for A$3.5 billion in 2020 after the airline was placed in voluntary administration. Creditors approved the buyout in September 2020.

A listing of the airline could be one of the largest IPOs in Australia in 2023 after capital markets activity plunged in 2022 as a result of global financial market uncertainty.

"In the coming months we will consider how to best position Virgin Australia for continued growth and long term prosperity," Mike Murphy, a Bain Capital Sydney based partner, said in the statement.

(Reporting by Scott Murdoch in Sydney Harish Sridharan in Bengaluru; Editing by Kim Coghill and Tom Hogue)

By Scott Murdoch