Virgin Money targets £2bn float

Virgin Money is in talks over a possible £2 billion float, potentially, as soon as October.

Sky News has reported that the directors of Richard Branson’s bank are in talks about announcing their intention within the next two months.

It also reported that Virgin Group, which owns 46.5% of Virgin Money, would look to retain as large a shareholding as possible after a flotation.

If the float goes ahead, the bank, which has 4 million customers, would become the third bank to sell shares on the London Stock Exchange this year, following Lloyds Banking Group and OneSavings.