Shawbrook Prices IPO, Backers to Sell Shares

Shawbrook has set an IPO price range of 350p to 390p a share, targeting a market capitalisation of about £1.8bn to £2bn and seeking to raise £50m of new money in its London listing. Private equity backers Pollen Street and BC Partners plan to sell a large block of existing shares that could raise up to roughly £371m, with major shareholders agreeing to a 180‑day lock‑up. The group’s CEO, CFO and other senior executives have agreed staggered lock‑up arrangements extending up to two years. Retail investors can apply with a minimum of £250 via participating platforms, and the float returns Shawbrook to the public market eight years after its 2017 take‑private. Market participants say the IPO could be one of the City’s biggest domestic listings in years and help revive London’s thin pipeline of public offerings.