If you’re looking to own a piece of space travel, now may be your chance. According to The Guardian, Richard Branson’s Virgin Group sent a statement to the New York Stock Exchange saying they intend on selling 25m shares. These shares account for over a fifth of Branson’s stake in Virgin Galactic and the total value was worth around $500m when the pre-announcement price of one of the shares is taken into account– $20. The expected $400m that Virgin Group raises from the selling of these shares will help support the group while the remaining money will go to Aabor, an Abu Dhabi investment fund. Virgin Group has been hit hard during the ongoing pandemic, with Virgin Atlantic taking a brunt of the damage. Virgin Group will use some of the raised funds to help prop up Virgin Atlantic.
Source: TheGuardian.com
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