Virgin Money delays flotation plans

The challenger bank announced its plans to raise £150m on 2 October and at the time it planned to float later in the month.

But now it expects the flotation to occur later than October 2014.

Jayne-Anne Gadhia, chief executive officer, said: “Virgin Money continues to perform strongly and we remain focused on delivering a successful initial public offering as soon as market conditions allow.”

Fellow challenger bank Aldermore recently cancelled its plans to float on the London Stock Exchange.