Virgin Money IPO down, for now, but not yet out

By Andrew Griffin
23 Oct 2014

Virgin Money said it would miss its October target for completing its IPO, after it postponed the start of bookbuilding last Friday (October 17). Bankers close to the deal insisted that the company was waiting for more stable markets to return, rather than pulling the deal entirely.

The company said on October 2 that it was launching its IPO with a view to listing in October. It will now not complete in that timeframe, it said. The target was to raise £150m of new capital and sell an unspecified number of secondary shares. The proportional size of the capital ...

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