Aldermore Bank aims for stockmarket flotation

Aldermore Bank has announced plans for a stockmarket flotation in October, joining a growing group of lenders who have either listed their shares already or are planning to do so.

The lender issued a statement last week saying it hoped to raise £75m in capital through an initial public offering overseen by investment banks Credit Suisse and Deutsche Bank.

Virgin Money is also close to launching its own stockmarket flotation, which could value the lender at up to £2bn, though the bank has refused to comment.

In June OneSavingsBank became the first UK lender to list its shares in more than a decade, while Lloyds Banking Group floated around 38.5 per cent of its shares in TSB on the stock exchange this summer.