Virgin Group’s Richard Branson Plans to Sell 25 Million Shares

Richard Branson's, Billionaire of Virgin Group stated on Monday that it might sell up to 25 million shares of space travel industry organization Virgin Galactic Holdings Inc. (SPCE.N) to raise assets in the midst of the COVID-19 pandemic. The organization said it expects to utilize the returns to help its arrangement of worldwide recreation, occasion and travel organizations that have been influenced by the effect of the coronavirus.

Portions of Virgin Galactic, which have increased 69% this year, were down 3.1% at $19.54 in evening exchange. In light of Friday's end value, the contribution would raise as much as $504.5 million. The organization, which means to offer the primary business space flight not long from now, said in April it would continue running as a basic framework business during the pandemic.