View more on these topics

Virgin Money confirms November stock market float

Virgin Money has confirmed it will proceed with its planned share listing on the London Stock Exchange this month.

The lender last month delayed plans for the stock market flotation due to a slump in global equity markets, but has today confirmed it expects a listing will take place by “the end of November”.

Virgin Money chief executive Jayne Anne-Gadhia says: “Our business performance remains strong and on Friday we published our Q3 trading update which demonstrates our continued growth momentum.

“We welcome the clarity provided by the Financial Policy Committee on the leverage ratio, and are please to note that we operate in excess of the recommended requirements.

“Given this and more stable market conditions, we now plan to move forward with our IPO with the aim of being admitted by the end of November. Access to the public capital markets has been a long-term strategic objective for Virgin Money and we are now ready to take this important step forward for our business.”

Challenger bank Aldermore cancelled its own plans for an IPO launch last month, also citing challenging stock market conditions, while supermarket giant Tesco is rumoured to be considering a partial-listing of its banking arm.

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com