Shares in Shawbrook experienced a notable increase of over six percent on their inaugural day of trading on the London Stock Exchange.
The company priced its shares at £3.70 each, situated in the middle of the anticipated range, and concluded its first day at £3.95 per share. Owned by entities backed by Pollen Street Capital and BC Partners, Shawbrook aimed to raise approximately £50 million, with a target valuation of £2 billion.
Marcelino Castrillo, Shawbrook’s chief executive, expressed pride in the company’s listing in London, emphasizing the strategic advantages it presents for future opportunities.
This initial public offering (IPO) marks the largest in London in two years, following a period in which the UK capital struggled to compete with U.S. markets. Notably, Wise has announced plans to relocate its listing from London to New York, while fellow UK fintech firms Monzo and SumUp are reportedly considering the U.S. for their impending IPOs.