Virgin in $350m capital raising

Airline places shares in trading halt as it embarks on raising to improve liquidity.

Virgin Australia Holdings (VAH) has requested its shares be placed in a trading halt from the commencement of trading today as it embarks on a new equity raising of approximately $350 million.

In a statement to the Australian Securities Exchange, Virgin announced the fully underwritten 5 for 14 pro rata accelerated non-renounceable entitlement offer, saying it was designed to enhance the airline's liquidity and gearing position.

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