Virgin Money IPO: Shares priced at 283p valuing bank at £1.25bn November 13, 2014 Shares in Virgin Money will be priced 283p per share when trading begins in earnest on Tuesday, the bank confirmed today. The pricing, which City A.M. exclusively revealed yesterday, values the challenger bank at £1.25bn. Conditional dealing begins this morning, with unconditional dealing and formal admission to the London Stock Exchange expected to take place next [...]
Virgin Money to start trading at lower end of pricing scale November 12, 2014 THE LONG-AWAITED flotation of Virgin Money will take place tomorrow, although the bank is planning to price its shares right at the bottom of their range, City A.M. understands. Earlier this month we revealed the challenger bank will target a share price of 283p-333p when it launches its IPO, valuing it at £1.25bn-£1.45bn. A source close [...]
Exclusive: Virgin Money to IPO on Friday, but prices shares at bottom of range November 12, 2014 The long-awaited flotation of Virgin Money will take place on Friday, although it is planning to price its shares right at the bottom of their range, City A.M. understands, . Earlier this month, we revealed the challenger bank will target a share price of 283p-333p when it launches its IPO, valuing it at £1.25bn-£1.45bn. But a source [...]
Challenger banks Virgin Money and Yorkshire Building Society call for RBS and Lloyds to be split up November 10, 2014 Small lenders are calling on the competition watchdog to look at breaking up RBS and Lloyds, arguing the market is too focused on giant players. The Yorkshire Building Society (YBS) and Virgin Money have both written to the Competition and Markets Authority (CMA) to push for the big banks to carve out more new challengers from [...]
Exclusive: Virgin Money IPO gets thumbs-up from investors as “big four” banks are slated by CMA November 6, 2014 Bankers working on the flotation of Virgin Money are likely to exercise their "greenshoe" option when it launches its initial public offering (IPO) later this month, City A.M. understands. A source close to the deal said such has been the enthusiasm from investors for shares in the bank, it will sell an extra tranche of [...]
Exclusive: Virgin Money cuts expectation for post-IPO market cap November 5, 2014 Challenger bank Virgin Money has lowered expectations for its post-IPO valuation, City A.M. understands. Having originally touted a post-IPO market cap of between £1.5bn-£2bn, it has reduced its expectations to £1.25bn-£1.45bn following its IPO later this month. Virgin Money shelved its flotation plans in October citing market turbulence, but on Tuesday it said more [...]
Virgin Money confirms it will IPO by the end of November November 4, 2014 Challenger bank Virgin Money has confirmed it will go ahead with its flotation plans after it put its IPO off last month. In a statement to the stock market today, the bank said it expected to list on the London Stock Exchange by the end of November. Previously it has said it aims to raise [...]
Virgin Money re-launches IPO, Virgin America expects to raise $36m from its own offering November 3, 2014 Virgin Money’s stock market flotation is back on the table, as the UK challenger bank is understood to be re-launching its plans imminently. Meanwhile – across the Atlantic – low cost airline Virgin America could be valued at $1bn (£625m) if its initial public offering (IPO) goes to plan. Rocky market conditions last [...]
Virgin Money delays IPO until market conditions improve October 17, 2014 Virgin Money has pushed back its IPO indefinitely, saying it will now go public “as soon as constructive market conditions allow”. The challenger bank had announced it would list on the London Stock Exchange this month, and was expecting to raise gross proceeds of £150m. Virgin planned to issue 25 per cent of its [...]
Aldermore IPO flops as market flattens but Virgin Money pushes ahead with flotation plans October 15, 2014 Aldermore's advisers approached investors with a cut-price offer in a last- ditch bid to save the challenger bank’s stock market float, but failed to pick up enough sales, City A.M. understands. The firm pulled its initial public offering (IPO) yesterday, blaming “the recent deterioration of global equity markets”. The bank approached the IPO [...]