Shawbrook's IPO Revival: £2bn Valuation, Boost for London Stock Exchange
BC Partners and Pollen Street Capital are set to revive the initial public offering (IPO) plans for Shawbrook, with an announcement expected as early as next week. The specialist lender, which recently reported a 35% jump in profit before tax, could potentially attract more listing candidates to the London Stock Exchange.
Shawbrook, a specialist lender, has seen a significant increase in its financial performance. In its half-year report, the firm recorded a 35% jump in profit before tax to £168.6m. This positive financial outlook has led its private equity owner, Pollen Street Capital, to explore an IPO as a potential exit strategy.
Pollen Street has valued Shawbrook at £2 billion for the proposed float. The London Stock Exchange, which has slipped to 23rd in global IPO rankings, could benefit from a successful Shawbrook listing. The exchange has partnered with Crowdcube to give individual investors access to private firm investments on institutional terms, aiming to boost its IPO activity. Pollen Street has previously considered other pathways for Shawbrook, including a £5bn merger with Starling Bank and a potential takeover of Metro Bank.
Shawbrook's IPO plans, if successful, could signal a boost for the London Stock Exchange's IPO rankings. The exchange's partnership with Crowdcube also aims to increase individual investor participation in IPOs. Meanwhile, Shawbrook's recent acquisition of FinTech lender ThinCats for £180m further strengthens its position in the market.
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