Branson sells another chunk of Virgin Galactic
June 4, 2020
By Chris Forrester
Richard Branson has sold 12.3 million shares of his dwindling holdings in his sub-orbital space tourism project Virgin Galactic.
The shares were sold to an unnamed buyer through Credit Suisse and were on offer a $15.20 (€13.56) each, which Bloomberg reports, was a 3.9 per cent discount.
The shares represent a 16 per cent slice of the company’s public float. As at May 22nd, Branson’s holdings totaled 89.9 million shares, or about a 46 per cent stake.
A month ago on May 12th, Branson sold a 12 per cent stake in order to support other Virgin-branded businesses including airline Virgin Atlantic (51 per cent owned by Branson, 49 per cent owned by Delta Airlines). That sale generated some $486 million.