Virgin Galactic, with its New York Stock Exchange listing, becomes the first space tourism company to hit public markets
- Richard Branson-backed Virgin Galactic Holdings Inc SPCE.N fetched a valuation of around $2.3 billion on its market debut on Monday, after shares in the first publicly traded space tourism company popped before fizzling out.
Virgin Galactic went public through a merger with Social Capital Hedosophia Holdings Corp, a publicly traded shell company, or special purpose acquisition company , led by former Facebook executive Chamath Palihapitiya. This raised much-needed funds for Virgin Galactic after Branson in 2018 said the company would suspend discussions with Saudi Arabia’s Public Investment Fund over a planned $1 billion investment after the murder of Saudi journalist Jamal Khashoggi.
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