Richard Branson to Cash In Part of Virgin Galactic Stake

Richard Branson’s Virgin Group said it plans to sell as much as 12% of Virgin Galactic Holdings Inc.—the space-tourism venture that made its initial public offering in New York—to shore up its other travel and tourism businesses.

In a regulatory filing Monday, Virgin said it would sell as many as 25 million shares in the company, to raise funds to support its portfolio of global leisure, holiday and travel businesses. Those businesses, including a cruise line and two airlines, have been hit hard by a drop in demand amid the…

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