Virgin Money edges closer to IPO

Virgin Money is moving closer to a float on the London stock exchange with a listing that could value the company at up to £2bn.

According to Sky News, the lender is set to become the third UK bank to float on the stock market in 2014 and the IPO could take place as early as October. 

Sir Richard Branson’s Virgin Group, which owns 46.5 per cent in the lender, will reportedly look to retain a significant stake in Virgin Money.

Talks of a share offering first emerged in December 2012 and then again in May this year, when Virgin Money was reported to be considering appointing two investment banks – Goldman Sachs and Merrill Lynch – to oversee a listing.

Virgin Money refused to comment.