(Alliance News) - Shawbrook Bank is pushing ahead again with plans for an initial public offering in London this year, after the timing of the IPO had previously slipped, the Financial Times reported on Wednesday.
Shawbrook is a commercial and retail bank, providing credit facilities to businesses and mortgages to professional landlords and property investors. Back in May, Shawbrook said its loan book stood at GBP15.8 billion, up 15% from a year before.
Shawbrook Bank Ltd is the operating subsidiary of Shawbrook Group PLC, which has bonds listed on the London Stock Exchange but not shares. It had previously been listed, but was acquired by private equity firms BC Partners LLP and Pollen Street Capital Ltd in 2017.
In January, Sky News reported that the two owners had appointed Goldman Sachs to work on a possible IPO in 2025.
On Wednesday, citing "people familiar with the matter", the FT said more investment banks are being added to Shawbrook's group of advisors, and the listing could happen as soon as the second half of this year.
By Tom Waite, Alliance News editor
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