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Virgin Trains USA Delays Planned $538 Million IPO

  • Branson-branded company’s IPO was set to be 2019’s biggest yet
  • Virgin Trains found alternative financing, to stay private
Bloomberg business news
Why Virgin Trains Decided to Sidetrack IPO
Updated on

A money-losing Florida railroad running behind schedule on its own projections has put off what would have been the year’s biggest initial public offering so far.

Virgin Trains USA Inc., which shuttles passengers between Miami and West Palm Beach and struck a licensing deal last year with billionaire Richard Branson, sought to raise as much as $538 million in an IPO that was set to price Tuesday.