Virgin Money to proceed with IPO

Source: Virgin Money

Virgin Money has today confirmed that it plans to proceed with its intention to apply for the admission of its Ordinary Shares to the premium listing segment of the Official List and to trading on the main market for listed securities of the London Stock Exchange. It expects admission to take place by the end of November 2014.

Jayne-Anne Gadhia, Chief Executive Officer said:

“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 pleased to note that we operate in excess of the recommended requirements.

"Given this and given 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.”

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