Richard Branson’s Virgin Galactic plans to go public via a New York cash shell led by former Facebook executive Chamath Palihapitiya. The company, with an enterprise value of $1.5bn, would open space to more investors and to "thousands of new astronauts", Branson said. The cash shell, Social Capital Hedosophia, raised $700m and was pitched as a way to bring tech companies to the market without the hassle of an IPO.

Financial Times..

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