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.