Particle.news
Download on the App Store
8 ARTICLES
·
2w ago

Shawbrook Files to Rejoin London Market in Up to £2 Billion IPO

The refloat is framed as a gauge of London’s tentative IPO revival.

Image
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
Image

Overview

  • Shawbrook published its registration document and confirmed its intention to apply for a main-market listing with an expected free float of at least 10%.
  • The offering will combine new shares to fund growth with secondary sales by owners Pollen Street Capital and BC Partners, with at least £200 million of stock to be sold.
  • Reporting points to a valuation of up to £2 billion, with a retail tranche offered alongside the institutional bookbuild via the RetailBook platform.
  • Advisers include Ardea Partners, with Goldman Sachs and Barclays as joint global coordinators, and Deutsche Numis, UBS, Stifel and KBW among the bookrunners.
  • The specialist lender, previously taken private in 2017, highlights a £17 billion loan book and a goal to reach about £30 billion by 2030 as it pitches for public investors.