IPO

Challenger bank Virgin Money has priced its shares at the bottom of their range as it relaunches its delayed IPO.

A raft of pulled IPOs in October point to a more rational environment for new listings, managers suggest.

ITs in 2014: Narrowing discounts and an income focus

UK 'challenger bank' Aldermore is set to float later this month, with a share price which values the business at around £800m.

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.