A new listed Bank in the UK. Shawbrook targets small and medium sized companies for its loans. Virgin Money, TSB and OneSavings Bank are other challenger banks that have already listed while the market expects Yorkshire & Clydesdale, Metrobank and Santander's UK operations to float on the stock market later this year.
Shawbrook Bank is the latest start-up bank to float on the London Stock Exchange and is widely thought to be the last listing until after the election Shares in Shawbrook, the challenger bank, have lifted in its first day of trading and what is widely believed to be the last stock market flotation until after the election. Shawbrook priced its initial public offering (IPO) at 290p-a-share to value the challenger bank at £725m. The price is near the top end of its 255p to 305p range and will raise £90m through the sale of 75m shares. The bank's shares closed16p, or 5.5pc, higher to 306p following its market debut.