Private equity firms BC Partners and Pollen Street are preparing to return Shawbrook to the public markets, with the specialist lender confirming plans for a London IPO that could value the business at up to £2bn ($2.7bn), according to a report by Reuters.
The flotation would allow Marlin Bidco, the PE-owned vehicle that controls Shawbrook, to reduce its stake while funding the bank’s expansion. BC Partners and Pollen Street took Shawbrook private in 2017 and have since weighed strategic options for the lender, including merger talks with Metro Bank and Co-op Bank.
Shawbrook, which targets specialist lending segments underserved by larger UK banks, said the IPO would broaden its shareholder base and enhance its profile. The company plans to offer shares to both institutional and retail investors, with a free float of at least 10%, potentially making it eligible for FTSE index inclusion.
The move marks one of the most significant PE-backed listings in London in recent years, after a prolonged drought in IPO activity. For BC Partners and Pollen Street, it represents an opportunity to crystallise value from a long-term investment, while signalling confidence in London’s capital markets despite competition from overseas exchanges.
CEO Marcelino Castrillo described the IPO as a “milestone”, highlighting strong growth tailwinds and opportunities to reach new customer segments.
The deal adds momentum to a late-year pipeline of London listings, with Princes and Beauty Tech Group also moving ahead with flotation plans.
