Aldermore in US search for funds

David Hellier
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CHALLENGER bank Aldermore, which is trying to raise around £75m in a stock market flotation, is in New York making a last-ditch attempt to raise the funds.

Advisers to the bank had hoped to have covered their books in London earlier this week but failed to get enough solid support.

The bank has come to the market at the same time as Virgin Money, which is seen as a better known and more attractive brand.

“It’s been a choppy week in the markets and that certainly hasn’t helped,” said a source last night.

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