Shawbrook Bank Set to Return to Public Ownership in £2bn IPO
Shawbrook Bank, previously owned by private equity firms BC Partners and Pollen Street since 2017, is set to return to public ownership. The bank is preparing to list on the London Stock Exchange, potentially as early as next Thursday.
Shawbrook's return to the stock market follows a period of growth and expansion. The bank's deposits have increased by 11% to £16.7bn, while its profit before tax surged by 35% to £168.6m in the first half of the year. The bank's loan book also grew by 14% to £17bn during this period. This growth is reflected in Shawbrook's improved CET1 ratio, which rose by 0.1%.
The bank has been exploring expansion options, including a £5bn merger with Starling and a potential takeover of Metro Bank. Shawbrook expects further growth across its four core segments and has started integrating AI to reduce its cost of risk. Pollen Street Capital, Shawbrook's private equity owner, is seeking a £2bn valuation for the firm through the transaction.
Shawbrook's IPO could potentially boost the London Stock Exchange's rankings, which have fallen to 23rd globally this year. With Cavendish reporting a solid pipeline of IPOs and M&A activity, Shawbrook's float could encourage more listings on the exchange.
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