Shawbrook Group has launched conditional trading on the London Stock Exchange, valuing the specialist lender at around £1.92 billion. The move marks the UK’s largest flotation of the year and a significant moment for the capital’s IPO market after a period of subdued activity.
The Essex-based bank has set its offer price at 370 pence per share, raising £50 million by selling 13.5 million new shares. A further 80.5 million shares are being sold by its current owner, Marlin Bidco, which BC Partners and Pollen Street Capital back. Around £25 million of the proceeds will come from retail investors through a public offer.
Unconditional trading on the main market is scheduled to begin next week. Founded in 2011, Shawbrook focuses on specialist lending across property finance, motor finance, and SME lending.
The listing comes amid renewed interest in London’s capital markets as several companies look to test investor appetite. Shawbrook’s return to public ownership follows eight years under private equity control, positioning the group for the next phase of its growth strategy.
