Stabilisation in the stock market and clarity from the Bank of England about how much capital the bank should hold, has allowed the management team, led by Jayne-Anne Gadhia, to restart the sale process. Gadhia, who is in line for a share award as a result of the initial public offering, said: “Given this [clarity from the Bank of England] and given more stable market conditions, we now plan to move forward with our IPO with the aim of being admitted by the end of November.” The bank has 75 branches as result of the acquisition of the “good” part of Northern Rock in 2011. As a result of the stock market flotation, taxpayers are in line for £50m and the bank’s 2,800 staff on track for a free share handout of £1,000 each.

http://www.theguardian.com/business/2014/nov/04/virgin-money-ipo-stock-market-flotation