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3w ago

Shawbrook Publishes Registration for London IPO, Eyes £2 Billion Valuation

The specialist lender presents a return to public markets as a route to fund growth.

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Shawbrook’s announcement will give fresh hope to brokers, bankers and lawyers in the City that a long-running dearth of initial public offerings is coming to an end

Overview

  • Shawbrook confirmed plans to seek admission to the London Stock Exchange’s main market by publishing a registration document.
  • The bank expects a free float of at least 10% and says it would be eligible for inclusion in the FTSE UK indices.
  • The offer is set to include new shares and existing stock, with at least £200 million to be raised in primary proceeds and a retail allocation via RetailBook.
  • Advisers include Ardea Partners, with Goldman Sachs and Barclays as joint global coordinators, and UBS, Deutsche Numis, Stifel and KBW as bookrunners.
  • The float would allow sole shareholder Marlin Bidco to realise part of its investment, as management targets a loan book of about £30 billion by 2030 following its 2017 take-private.