British lender Virgin Money said it would go ahead with its postponed stock market listing and expected to be admitted to the London Stock Exchange by the end of November.
The company, backed by billionaires Richard Branson and Wilbur Ross, said last month it was postponing its initial public offering (IPO) as market conditions soured amid concerns over global growth.
The business had planned to raise around £150m in a flotation that could value the firm at £1.5-2 billion.
Virgin Money's chief executive Jayne-Anne Gadhia said that new Bank of England leverage rules set out last week had provided clarity for the UK banking sector, meaning the time was right to push ahead.
"Given this 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 CEO added.
Meanwhile, Eastern European low cost carrier Wizz Air will be ready to make another attempt at an initial public offering (IPO) when the market improves, its chief executive also said today.
Wizz postponed plans to list its shares on the London Stock Exchange in June, with sources saying it was not able to get the valuation it wanted.
"We found the market quite volatile and quite turbulent going through the process and that's the reason why we withdrew from the process," chief executive Jozsef Varadi told a travel conference in London.
Varadi said Wizz was self-sufficient in terms of liquidity and the group was not desperate for an IPO.
"Nevertheless we stand ready to look at the market again when we think the market is in good shape for an IPO," he added.
