UK digital lender Shawbrook has revealed plans to go public in what could be London’s largest IPO of the year.
The offering is expected to value the company at around £2 billion, according to reports. Shawbrook said the listing will include both new and existing shares, with at least 10% of its stock available for trading.
This move would mark Shawbrook’s return to the public markets following its £868 million take-private deal by BC Partners and Pollen Street in 2017. The two private equity firms previously explored a sale or IPO in 2022, but rising inflation at the time reportedly derailed those efforts.
London’s IPO activity has been subdued this year, with just three main market listings completed by the end of September. However, momentum appears to be building again. The Beauty Tech Group debuted last week at a £300 million valuation, while food producer Princes has also announced listing plans. Software group Visma is preparing a 2025 IPO that could value the Hg-backed firm at $20 billion.
The UK government is pushing to revitalize its capital markets, having simplified listing rules last year. Sky News reports that Chancellor Rachel Reeves is meeting with potential IPO candidates—including Gymshark, OakNorth, and Starling—to encourage them to choose London for their flotation.
Source: Morningstar
