- Lender hopes to raise £50m from the IPO, which was delayed by market turmoil
Shawbrook shares soared in early trading on Thursday after the challenger bank made its London Stock Exchange debut.
The bank kicked off the biggest London Stock Exchange initial public offering (IPO) of 2025 with a listing price of 370p, in the middle of the marketed range, as it targeted a valuation of just shy of £2billion.
Shawbrook shares were up 6.3 per cent at 393.43p by mid-morning.
Trading on Thursday involved so-called conditional dealings, with unconditional dealing set for 4 November.
The small business lender will also sell £348million worth of shares, representing around 18.1 per cent of the group’s issued share capital, to private equity backers BC Partners and Pollen Street Capital
On the market: The Shawbrook IPO is the biggest UK debut of 2025 so far
Boss Marcelino Castrillo said: ‘The strong support we have received from investors across the UK, Europe and the US, reflects the strength of Shawbrook’s proposition and the business we have built.
‘We are proud to be listing in London – our home market – a milestone that positions us well for the opportunities ahead.
‘We have built scale across diverse, attractive markets and, following significant investment under private ownership, are well placed to keep growing as we support UK businesses and households.’
The lender has been hoping to raise £50million from the IPO, which was delayed by market turmoil earlier in the year.
Castrillo said Shawbrook will continue to invest in its ‘platform and people, deepen our presence in chosen markets and expand selectively where we see attractive demand’.
He added: ‘Our priorities are clear: keep supporting our customers and deliver sustainable, profitable growth and long-term value for all stakeholders.’
The debut comes amid a flurry of other IPO announcements in a boost for the City after a prolonged drought of new listings in recent years.
Beauty Tech Group – whose products are favoured by the likes of Kim Kardashian and Serena Williams – and US data centre giant Fermi made their London debuts recently.
Tinned tuna firm Princes, whose brands include Branston baked beans and Napolina olive oil, has also said it plans an IPO.
And speculation is mounting that digital bank Revolut is considering a dual listing in London and New York.
In efforts to promote activity, the Financial Conduct Authority is reportedly in early stage talks to shorten the amount of time it takes for companies to launch initial public offerings
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