Virgin Money valued at £1.25bn in market debut Challenger bank Virgin Money made its delayed market debut this morning, pricing its shares at 283p each. The initial public offering (IPO), which will raise about £150 million for the lender, values the Edinburgh-based firm at about £1.25 billion. Virgin Money had aimed to join the London Stock Exchange last month, but postponed the move amid turbulent market conditions. Chief executive Jayne-Anne Gadhia said: "The completion of our IPO will see us make a final payment to the government of £50m as consideration for our acquisition of Northern Rock, taking the total paid to over £1bn. As we begin life as a public company, we are committed to maintaining the straightforward, transparent approach to business that we believe helps differentiate us.