Virgin Money shares rose by almost 10% following CYBG’s full-share takeover

Written by Oliver Wade

Shares in Virgin Money rose by 9.89% yesterday to reach 343.3p, as investors welcomed the news of the latest consolidation in the British challenger bank sector, while shares in CYBG also rose by 1.3%.

However, despite investors benefitting from the news, it is understood that City regulators were eyeing the movements before the offer was revealed.

Virgin Money shares rocketed over the course of last week, rising by over 15%, as a result of its positive first-quarter results, at which guidance and outlook remained unchanged.

The movements were noted by the FACE, however, with the regulator stating: “We don’t comment on specific cases but we conduct surveillance across the market on a daily basis and routinely look at unusual or sudden changes in price or volume.”

Virgin Money and CYBG declined to comment on the matter.

    Share Story:


Specialist FTB and BTL markets
Adam Cadle talks to Vida Homeloans director of sales - mortgages Louisa Sedgwick about the specialist first time buyer and buy to let markets


Subscribe to our newsletter to receive breaking news by email.

MoneyAge welcome
MoneyAge Editor Adam Cadle discusses the brand and what is on offer

World Markets (15 minute+ time delay)