The listing on the Nasdaq Global Select Market is expected to raise $US 17-19 per share, which would value Virgin Trains USA at around $US 3.2bn at the upper end of its projected price range.
The company also plans to grant underwriters a 30-day option to purchase up to an additional 4,250,100 shares. This means the IPO could raise up to $US 619m.
In preparation for the IPO Virgin Trains USA filed a prospectus with the US Securities and Exchange Commission on November 16, the same day it announced its strategic partnership with Florida’s privately-funded passenger rail operator Brightline.
