Virgin Galactic launched at Wall Street

on

Richard Branson dreams on putting tourists in space, and he thinks he already has the platform to gather public support for the development of vehicles capable of reaching space.

Yesterday, Virgin Galactic has just launched its space tourism firm before the New York stock market, opening at US$ 12/share.

BBC.COM says Virgin merged with publicly listed holding firm Social Capital Hedosphia based in Silicon Valley which allowed the launch in the United States. That deal brought back Virgin to about $800 million.

That deal brought $800m (£624m) to Virgin as it rushes to meet its goal of sending customers to space in 2020.

Taking the firm public will “open space to more investors and in doing so, open space to thousands of new astronauts,” Sir Richard said at the time.

BBC.COM reports that “Social Capital Hedosophia is already listed on the NYSE, allowing Virgin to sell shares without following the traditional stock offering process.

Shares in Social Capital Hedosophia, which will start trading under the ticker SPCE on Monday, jumped 11% on Friday in anticipation of the debut.”


Discover more from CurrentPh News

Subscribe to get the latest posts sent to your email.

Avatar photo
EditorialCurrentphNewshttp://filobserver.wordpress.com
CPH News Editorial is a team composed of journalists who write Philippine and Asian news, culture, information and opinions.

LEAVE A REPLY

This site uses Akismet to reduce spam. Learn how your comment data is processed.

MUST READ

High food prices, corruption dominate Filipinos’ online concerns —...

MANILA, Philippines— Rising food prices, demands for higher wages, and allegations of corruption involving government flood-control projects dominate online discussions nationwide, according to Matanaw...

Tiu-Laurel, may koneksyon sa isang rice importer?

Sinisilip ang posibleng conflict of interest ni Department of Agriculture (DA) Secretary Francisco Tiu Laurel Jr. matapos lumutang ang kanyang corporate connection sa Planters...

SC Petition: Recovery of Hidden Wealth and Suspension of...

SC Petition: Recovery of hidden wealth and suspension of Impeachment Trial The Partido Maharlika has joined concerned Filipino citizens Mario P. Pagaragan, Jr. and...

METRO Backs DOTR Sec Dizon’s Reforms, seeks protection for...

MANILA, Philippines— Motorcycle taxi riders' group METRO has thrown its support behind Transportation Secretary Vince Dizon's efforts to address regulatory issues in the motorcycle...

US Mid-Term Elections: What it means to the ordinary...

NewsFlash: The Democratic Party’s gains in the US midterm elections could reshape the political landscape in Washington, with President Donald Trump facing an opposition-controlled...

Discover more from CurrentPh News

Subscribe now to keep reading and get access to the full archive.

Continue reading