6th Jan 2025 09:37
(Alliance News) - Lender Shawbrook Group is sizing up a London listing again, in a move which would get the UK initial public offering market moving in 2025, Sky News reported on Saturday.
Shawbrook, once part of the London Stock Exchange before being acquired by a consortium led by BC Partners and Pollen Street Capital in 2017, could float in a deal which values it at GBP2 billion.
BC Partners and Pollen Street Capital are close to appointing Goldman Sachs to work on a possible IPO for Shawbrook, Sky News reported.
Barclays is among the other investment banks that could be added to that work "in the near future", according to Sky.
Citing people close to the situation, Sky News reported that a decision to move ahead with a float has not been made yet.
If it does go ahead, Shawbrook would almost certainly rank among the largest companies to list in London during the first half of 2025, the report noted.
BC Partners had previously enlisted Bank of America Corp and Morgan Stanley to advise on options including an IPO, Bloomberg reported in 2022.
BC Partners and Pollen Street Capital led a consortium that acquired the firm in 2017 in a deal valued at GBP861 million.
London-based Shawbrook is a specialist UK savings and lending bank.
The report comes as data from auditing firm EY showed there were just 18 new listings in 2024, while 88 companies delisted or transferred their primary listing from London’s main market.
Takeaway firm Just Eat Takeaway.com NV, Paddy Power owner Flutter Entertainment PLC, travel group Tui AG, and equipment rental firm Ashtead Group PLC were among those to announce plans to ditch their main UK listing.
By Jeremy Cutler, Alliance News reporter
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