IPO

Challenger bank Virgin Money has announced plans for an initial public offering this month, committing to a progressive dividend policy in the process.

Lloyds Banking Group is to sell another 11.5% stake in its TSB business, leaving it with a 50% holding in what promises to become a challenger to the UK's existing retail banking industry.

Investors are set to snap up cheaper IPOs after a series of flops at the start of the summer, Unicorn managers Fraser Mackersie and Simon Moon have forecast.

Taxpayers lost out on roughly £1bn in the Royal Mail initial public offering due to poorly-priced shares, MPs have said.

Business Secretary Vince Cable has bowed to mounting pressure for an inquiry into the privatisation of the Royal Mail, ahead of a critical report due on Friday.

Twenty investment trusts have scrapped performance fees so far this year as pressure from open-ended rivals causes boards to take action.

Fund managers are turning away from the IPO hype which has seen many companies list this year, to concentrate instead on ‘overshadowed' mid-cap stocks.

Ian McVeigh and Steve Davies, managers of the £1.1bn Jupiter UK Growth fund, have said domestic investors should be wary of a number of ‘disruptive events' which could impact share prices over the next 12 months.

Two-thirds of UK fund managers believe interest rates will rise before the second half of 2015, despite the more cautious tone set most recently by Bank of England Governor Mark Carney, a study has found.

Williams plans to double holdings as Miton UK Smaller Companies soars