Shawbrook Set for £2bn London IPO as UK's Listing Market Booms
Shawbrook, a UK challenger bank, is set to make its debut on the London Stock Market today via an Initial Public Offering (IPO). This move could potentially value the company at up to £2 billion. The bank's finance chief, Dylan Minto, has expressed confidence in London as the venue for raising capital.
Shawbrook's IPO will not only fund the bank's growth but also enhance its profile and allow its private equity backers to sell some of their stake. The Chancellor, Rachel Reeves, has been actively engaging with potential listing candidates, including digital banks like OakNorth and Starling, to boost the UK's IPO market today.
Meanwhile, Fermi REIT, a specialist in AI data centers, is set to start trading on the New York Stock Exchange today, October 1, following its IPO. The company also plans a dual listing on the London Stock Exchange from October 2. Laura Janssens, head of European investment banking at Berenberg, expects the UK IPO market to improve by the end of 2025.
Speculation is rife that digital bank Revolut is considering a dual listing in London and New York. Additionally, tinned tuna firm Princes has announced plans for an IPO. Last week, Beauty Tech Group and US data centre giant Fermi made their London Stock Exchange debuts today.
The UK's IPO market is showing signs of growth, with Shawbrook's and Princes' plans to float, and Fermi REIT's dual listing. The Chancellor's efforts to attract listings and the potential dual listing of Revolut further indicate a vibrant IPO market today. These developments could lead to more investment opportunities and boost the UK's financial landscape.
