10th Mar 2016 10:27
LONDON (Alliance News) - Shares in Metro Bank PLC were trading above the pricing of the lender's initial public offering on Thursday, the first day of unconditional dealings for the stock on the main market of the London Stock Exchange.
The shares were trading at 2,199.50 pence on Thursday, versus an IPO price of 2,000.00p.
Founded by Vernon Hill in 2010, Metro Bank was the first new high street bank to open in the UK in over a century. The bank raised GBP400.0 million as it went public.
Metro Bank has a network of 40 branches, which it calls stores, in and around London. The bank wants to have about 110 stores by the end of 2020.
By Samuel Agini; [email protected]; @samuelagini
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