IN BRIEF: PRS REIT to join FTSE 250 to replace outbound Virgin Money

Virgin Money UK PLC - Newcastle upon Tyne-based consumer and mortgage lender - Virgin Money will be replaced by PRS REIT PLC in the FTSE 250 index with effect Monday. PRS invests in new-build family homes for the rental market. The index change is subject to court sanctioning of Virgin Money's takeover by building society Nationwide. The Financial Conduct Authority and the Bank of England's Prudential Regulation Authority both gave clearances for the GBP2.9 billion deal earlier in September. The court hearing to sanction the scheme of arrangement for the acquisition will be held on Friday.

Virgin Money current stock price: 217.30 pence

12-month change: up 30%

PRS REIT current stock price: 103.80p

12-month change: up 49%

By Eric Cunha, Alliance News news editor

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