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

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now