View more on these topics

Shawbrook’s IPO price puts value at £725m

Shawbrook Bank has priced its initial public offering at 290 pence per share, valuing the bank at £725m.

The offer will raise £90m through the sale of 75 million shares.

Shawbrook is a specialist savings and lending bank offering buy-to-let, bridging and commercial loans with all lending arranged through brokers. It was founded in 2011 by David Johnson when it rebranded from Whiteaway Laidlaw Bank.

Shawbrook chief executive Richard Pyman says: “We are delighted that our IPO has been successfully received by investors.

“Our focus remains on providing customers with a fresh, pragmatic approach to lending and savings while driving further growth by maximising opportunities in existing markets, capitalising on the embedded growth in our current loan book and developing a range of products to facilitate expansion into adjacent segments.”

The move comes after Virgin Money launched on the LSE in November. Meanwhile, Aldermore Bank was valued at £651m in its IPO last month, after postponing its launch in October following a period of declining global equity markets.

Recommended

Martin-Reynolds-700.jpg

SimplyBiz adds Fleet Mortgages to its panel of approved lenders

SimplyBiz Mortgages has added buy-to-let lender Fleet Mortgages to its panel of lenders. All members of the club will have access to Fleet’s full mortgage range. SimplyBiz Mortgages chief executive Martin Reynolds says: “Creating a new partnership with Fleet Mortgages will offer our members even greater choice within the buy-to-let sector and offer new avenues […]

Richardson_Martin_Leeds-2013-700x450.jpg

Leeds launches 10-year fix at 3.64%

Leeds Building Society has launched a new 10-year fixed rate at 3.64 per cent. The product is available to 80 per cent LTV and has a £999 fee. Borrowers can pay back up to 10 per cent of the loan each year without penalty. Otherwise, early repayment charges are set at 6 per cent in […]

Webster
1

60 seconds with… Gary Webster, head of partnerships, Equity Release Supermarket

You have just launched an online equity release service. Why now? We believe there is a gap in the market that needs a fresh, customised approach to servicing firms that want to share the growth and profitability of the equity release market but do not have the necessary permissions. Our research signposted that brokers were […]

Business-Handshake-Finance-Deal-700.jpg

BoI begins distribution of products via Openwork

Bank of Ireland has begun distributing its products through Openwork as the lender continues its rollout into the broker market. The lender re-entered the broker market under its own brand in December, first distributing through LSL estate agency subsidiaries Reeds Rains, Your Move and Embrace Mortgage Services, before opening up to First Complete ARs last month. […]

Newsletter

News and expert analysis straight to your inbox

Sign up