Virgin Money postpones London stock market listing

Bank, Virgin Money
Chris Ratcliffe | Bloomberg | Getty Images

UK lender Virgin Money has postponed its London stock market listing, the company said on Friday, delaying plans to raise around 150 million pounds ($241.5 million).

"Virgin Money continues to progress its plan for an initial public offering, mindful of market conditions. It now expects admission to occur later than October 2014 and as soon as constructive market conditions allow," it said in a statement.

Analysts had estimated that Virgin Money would be valued at between 1.5 billion and 2 billion pounds, potentially valuing founder Richard Branson's stake at almost 1 billion pounds.

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