Shawbrook Bank’s share price rose by over 8% in today’s trading as the challenger bank made its debut on the London Stock Exchange.

The UK bank’s listing price, at £3.70 per share, valued the company at an estimated £1.92bn.

Shawbrook’s initial public offering (IPO) is the biggest on London’s market for two years, following a quiet period for new listings in the UK. According to London Stock Exchange data, it is the largest listing in terms of capital raised since Admiral Acquisition, a special purpose acquisition company, in May 2023.

The listing also represents a return to the public market for Shawbrook, which has been privately owned by BC Partners and Pollen Street Capital since 2017.

A statement from the bank also revealed that it will also sell around £348m worth of shares, representing around 18.1% of Shawbrook’s issued share capital, to its private equity owners.

Shawbrook CEO, Marcelino Castrillo, said: “The strong support we have received from investors across the UK, Europe and the US, reflects the strength of Shawbrook's proposition and the business we have built. We are proud to be listing in London – our home market – a milestone that positions us well for the opportunities ahead.

“We have built scale across diverse, attractive markets and, following significant investment under private ownership, are well placed to keep growing as we support UK businesses and households.

“As a listed company, we will continue to invest in our platform and people, deepen our presence in chosen markets and expand selectively where we see attractive demand.”

---