Shawbrook launches £725m IPO
Shawbrook has today announced the price of its initial public offering at 290 pence per Ordinary Share, valuing the company at £725 million.
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The Offer comprises 75 million Ordinary Shares and is expected to raise gross proceeds of approximately £90 million for the Company.
Conditional dealings will commence on the London Stock Exchange at 8.00 a.m. today.
Richard Pyman, Chief Executive Officer of Shawbrook, said:
"We are delighted that our initial public offering has been successfully received by investors and we welcome them to our business. Our focus remains on providing UK customers with a fresh, pragmatic approach to lending and savings whilst driving further growth by maximising opportunities in existing markets, capitalising on the embedded growth in our current loan book and developing a range of products to facilitate expansion into adjacent segments.
"We look forward to the next stage of our journey as Shawbrook continues to deliver on its strategy to become an increasingly well-known name in the specialist world of British banking.”
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