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Virgin boosts VAH shareholding

RICHARD Branson’s Virgin Group now holds 10.42% of Virgin Australia, after taking up an additional allocation under a sub-underwriting agreement related to the airline’s recent under-subscribed capital raising. According to an ASX update issued this afternoon, Virgin Group offshoot Corvina Holdings paid $73.8 million for its prorata allocation plus an additional $30 million for the extra shares, boosting its overall stake from 8.06% to 10.42%.

The above snippet is the first part of an article sent to subscribers in Travel Daily's issue from 08 Aug 16

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