Bain Capital’s Virgin Australia rose in Sydney trading after raising A$685 million ($444 million) in one of the country’s biggest initial public offerings of the year.

Five years after collapsing into administration, the country’s second-largest airline will finally return to the ASX on Tuesday. There is a lot at stake.

Virgin Australia lists on the ASX (VGN) after a successful $685m IPO, marking a new chapter in its growth and ambitions to be Australia’s most loved airline.