(Reuters) -The private equity owners of Shawbrook Bank are moving forward with plans for the 2 billion pounds ($2.71 billion) initial public offering in London this year, the Financial Times reported
Business lender Shawbrook aims for UK listing this year, FT reports
(Reuters) -The private equity owners of Shawbrook Bank are moving forward with plans for the 2 billion pounds ($2.71 billion) initial public offering in London this year, the Financial Times reported on Wednesday.
BC Partners and Pollen Street Capital, which own the British specialist lender Shawbrook, are preparing to list the company in London as soon as the second half of this year, the report said citing people familiar with the matter.
FT had earlier reported that Shawbrook aimed for a 2 billion pounds valuation and had planned a float earlier this year before delays.
The small business lender is adding more investment banks to its group of advisers, according to the report.
Reuters could not immediately verify the report. BC Partners, Pollen Street and Shawbrook did not immediately respond to a request for comment outside regular business hours.
Shawbrook's IPO will be a boost to the UK's capital markets, as a growing number of companies have shelved or shifted plans to list in London in recent years, with fast-fashion major Shein being the latest to walk away.
The UK has revamped listing rules to make London more attractive for company listings and fundraising.
($1 = 0.7393 pounds)
(Reporting by Shivani Tanna in Bengaluru; Editing by Eileen Soreng)
