Markets

Fortress-backed Virgin Trains USA postpones $510 million IPO

Virgin Trains USA, which owns and operates an express passenger rail system in Florida, postponed its IPO on Tuesday. It had filed to raise $510 million by offering 28.3 million shares at a price range of $17 to $19.

The Miami, FL-based company was founded in 2013 and booked $5 million in sales for the 12 months ended September 30, 2018. It had planned to list on the Nasdaq under the symbol VTUS. Barclays, J.P. Morgan, Morgan Stanley, BofA Merrill Lynch and Allen & Company were set to be the joint bookrunners on the deal.

The article Fortress-backed Virgin Trains USA postpones $510 million IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital's Renaissance IPO ETF (symbol: IPO) , Renaissance International ETF (symbol: IPOS) , or separately managed institutional accounts may have investments in securities of companies mentioned.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Other Topics

IPOs

Latest Markets Videos

    Renaissance Capital

    Renaissance Capital is the global leader in providing pre-IPO institutional research and management of IPO-focused investment products.

    Learn More