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Virgin Trains USA delays IPO plans


By Diptendu Lahiri(Reuters) - Virgin Trains USA has delayed its plans to raise more than $500 million in an initial public offering, a company spokeswoman said on Tuesday.The railroad had planned to sell 28.3 million shares in its IPO, which was expected to be priced at $17 to $19 per share, according to its filing with the U.S. Securities and Exchange Commission.At the top end of the range, the company would have been valued at $3.15 billion in what would have been one of the biggest U.S. IPOs so far this year."The price they were expecting was too high and it would have led the listing to ...

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First Published: Wed, February 13 2019. 04:29 IST