Shawbrook Bank has officially confirmed it is considering an initial public offering (IPO) on the London Stock Exchange, following recent media speculation.

The Financial Times last week reported that the UK bank’s private equity owners, BC Partners and Pollen Street Capital, were considering an intention to float the bank in a boost for London’s struggling market.

Shawbrook has today released a statement today confirming its plans to admit its ordinary shares to trading on the main market of the London Stock Exchange, stating that an IPO, if completed, could “position the group well for the next stage of its evolution”.

The UK bank, which has been under its current private equity ownership since 2017, also suggested that a potential IPO would help the company to retain and incentivise key management and employees, as well as provide Shawbrook with access to a “wider range of potential sources of capital”.

“We have transformed the size of our loan book as we’ve won share, entered new markets and expanded our capabilities through strategic acquisitions,” commented Shawbrook CEO, Marcelino Castrillo.

“Looking ahead, we are as excited as we have ever been. We have achieved real scale, and our current markets are large and growing, supported by attractive tailwinds. We also see a significant opportunity to bring Shawbrook’s offering to new types of customers.

“The entrepreneurial spirit that has driven our growth remains at the heart of how we operate and we have ambitious plans for the future. An IPO would mark an important milestone in our journey.”

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