Virgin Money Confirms IPO Plans For End November

Richard Branson's banking arm, Virgin Money, said on Tuesday it plans to go ahead with its initial public offering and expects to be listed on the London Stock Exchange by the end of the month. The announcement comes after the company last month put off its IPO amid market volatility due to broader concerns about the global economy, the threat of deflation, the Ebola scare and geopolitical concerns. Chief Executive Jayne-Anne Gadhia said in a statement on Tuesday that the company was now encouraged by "more stable market conditions" and the new Bank of England leverage ratio rules that were announced last week. Richard Branson was also in the spotlight last week, when a spacecraft crashed during a test flight.