15th Apr 2015 05:54
LONDON (Alliance News) - Funds run by US investor Wilbur Ross and Stanhope Investments are looking to sell off a big stake in Virgin Money, the Financial Times reported on Tuesday.
According to the report, which cited people familiar with the situation, Ross and Stanhope Investments had been seeking to sell 45 million shares but the size of the offer increased to 60 million shares.
The report said that the sale is likely to be priced at 400 pence per share. The lender's initial public offering in November 2014 valued it at 283p per share but the stock closed at 422p on Tuesday.
In addition, the Financial Times report said that private equity firm JC Flowers could be looking to sell further shares in OneSavings Bank due to strong demand from other investors.
http://www.ft.com/cms/s/0/05148b84-e2c7-11e4-aa1d-00144feab7de.html#axzz3XM0jYoIU
By Samuel Agini; [email protected]; @samuelagini
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