British specialist lender Shawbrook has priced its shares at £3.70 each, valuing the business at approximately £1.92bn, in what is London’s largest initial public offering in two years, according to a report by Reuters. Shares in the company subsequently rose by as much as 8% in early trading.
The offering sought to raise around £50m through the issue of new shares, while its private equity backers BC Partners and Pollen Street Capital expected to raise around £298m. Shawbrook returns to public markets after it was taken private by the two private equity firms in 2017.
The bank posted underlying profit before tax of £168m in H1 2025, up from £124.5m during the same period last year, and plans to use the proceeds from its IPO to fuel further acquisitions, having completed 24 deals since 2011. Shawbrook’s listing is reportedly the largest in terms of capital raised since Admiral Acquisition in May 2023.
