Richard Branson could float Virgin Money for £2bn on the London Stock Exchange

Virgin Money is in talks with advisors about launching and IPO as early as October, according to Sky News.

Billionaire entrepreneur and founder Sir Richard Branson is looking to launch the bank this year or next and, if its IPO happened in 2014, Virgin Money would become the third challenger bank to launch on the London Stock Exchange this year.

The company could reach a valuation of £2bn. Virgin Group, which owns 46.5% of Virgin Money is likely to retain a large shareholding after flotation, according to analysts.

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