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Virgin Money announces IPO pricing

Thursday 13th November 2014

Today Challenger Bank Virgin Money priced its long-awaited Initial Public Offering (IPO) at 283p per share. 
The shares are now trading on the London Stock Exchange and the pricing places Virgin Money at the bottom of the price range, valuing the company at £1.25 billion.  
Hargreaves Lansdown has confirmed that it won’t be possible to buy Virgin Money shares within an ISA or SIPP until later this month on November 18.
Commenting on the reaction to the IPO, John Tracy, Head of TD Direct Investing said: “We’ve seen a slower than expected response from TD customers to the Virgin Money IPO this morning." 
"There are a couple of factors at play here that lend themselves to a more cautious approach; first there was a lack of consumer awareness on the specifics and the timeline of the offering – with no prospectus available."  
"Secondly, the stock was priced at the bottom end of expectations – which has caused many to hold off. Retail investors clearly want more information and any growth of interest will be slow burn.”

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