Story Update: The IPO has been sidelined as of 2/12/19
From The Tampa Bay Times:
Virgin Trains USA, the Sir Richard Branson-backed company that has partnered with Florida’s Brightline passenger train, on Wednesday announced an initial public offering of stock to raise up to $619 million.
Altogether, Virgin Trains is offering to sell more than 32.5 million shares of stock at $17 to $19 per share. The shares will be listed on the Nasdaq stock exchange under the ticker symbol VTUS.
Brightline, which is soon expected to take on the Virgin Trains name, currently runs a passenger train between Miami, Fort Lauderdale and West Palm Beach, with plans to expand north to Orlando at an estimated cost of $1.9 billion. It also has proposed a $1.7 billion link from Orlando to Tampa, with a possible stop near Disney’s theme parks, and is negotiating with the Florida Department of Transportation and the Central Florida Expressway Authority for right of way along or in the medians of Interstate 4 and State Road 417.
Virgin/Brightline currently runs from West Palm Beach to Miami with a stop in Ft. Lauderdale. The Orlando expansion isn’t expected until at least 2021.
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