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Virgin to press ahead with flotation

Sarah Davidson

October 15, 2014

The challenger bank, which is part-owned by entrepreneur Richard Branson, announced its floatation plans earlier in the month, as it hopes to raise £150m.

A Virgin Money spokesman said: “We are still pursuing our IPO [Initial public offering] and are engaged with investors.”

Fellow challenger bank Aldermore cancelled its plans to float on the London Stock Exchange earlier due to “recent deterioration of global equity markets”.

It said in a statement: “Aldermore continues to perform strongly, with excellent organic loan growth and a proven track record of delivery through its modern, digital platform.”

Aldermore had originally planned to raise around £75m.


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