PRESS: Shawbrook Bank revives London IPO plans at GBP2 billion value

(Alliance News) - Shawbrook Bank is preparing to launch its initial public offering in London, with an announcement likely as soon as Thursday, the Financial Times reported on Wednesday, citing "three people familiar with the matter".

One of those people told the FT that Shawbrook could be valued at up to GBP2 billion in the IPO.

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. It had paused its plans for an IPO earlier this year amid market turmoil.

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.

By Tom Waite, Alliance News editor

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