FinanceInvestments and investor services
IG Group

Virgin Money expected to be valued at around £2.1bn


Retail investors have been excluded from the forthcoming flotation by Virgin Money, but they will still be able to take a punt on the shares.

Given the high profile nature of the flotation, the spread betting firms are sure to be making a grey market in the shares.

Things are made complicated, however, by the fact that the company, which took advantage of the UK banking crisis in the previous decade to acquire a chunk of the Northern Rock business, has yet to indicate how many shares it intends to list and at what price.

All we know is that existing shareholders, including Virgin Money employees, will be selling a portion of their existing holdings and that around £150mln of new shares will be issued.

Alastair McCaig, a market analyst at spread betting powerhouse IG Group, reckons current indications point to almost £500mln in fresh capital being raised.

Virgin has indicated that the free float – the proportion of shares not held by committed long-term owners – will be at least 25% of the entire issued share capital.

Based on this, IG reckons the company is likely to make its stock market debut valued at between £2.05bn and £2.15bn.

Quick facts: IG Group

Price: £5.82

Market: LSE
Market Cap: £2.15 billion

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...



Full interview: Lexagene Develops technology to test for deadly mosquito...

Lexagene (CVE: LXG-OTCQB-LXXGF) Founder and CEO Dr jack Regan joined Steve Darling from Proactive Vancouver on Skype with news the company has used their proprietary technology to develop a detection system for the Eastern Equine Encephalitis or EEE. Regan says that not only can they use the...

43 minutes ago


Total Voting Rights

2 weeks, 1 day ago

Notice of AGM

on 08/16/2019

Annual Financial Report

on 08/12/2019

Total Voting Rights

on 07/31/2019

2 min read