Abu Dhabi's Mubadala reports 7% stake in Virgin Galactic

The fund said it acquired the shares for investment purposes, according to a regulatory filing

  
A model of a Virgin Galactic SpaceShipTwo spacecraft is seen on the floor of the New York Stock Exchange (NYSE) as Virgin Galactic (SPCE) begins public trading in New York, U.S., October 28, 2019. REUTERS/Brendan McDermid Image used for illustrative purpose.

A model of a Virgin Galactic SpaceShipTwo spacecraft is seen on the floor of the New York Stock Exchange (NYSE) as Virgin Galactic (SPCE) begins public trading in New York, U.S., October 28, 2019. REUTERS/Brendan McDermid Image used for illustrative purpose.

Abu Dhabi state fund Mubadala Investment Co on Friday reported an over 7% stake in space tourism company Virgin Galactic Holdings Inc.

The fund said it acquired the shares for investment purposes, according to a regulatory filing.

Earlier this week, Virgin Galactic said its billionaire founder Richard Branson will fly into space on its rocketship early next year. The company had also said it would raise new funds with a share offering.

(Reporting by Ayanti Bera in Bengaluru; Editing by Shailesh Kuber) ((Ayanti.Bera@thomsonreuters.com; 646 223 8780 - 3401;))

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