IPO considered

Shawbrook Bank may return to stock market

Shawbrook Bank is pondering options

Challenger bank Shawbrook could be heading back to the stock market less than five years after it was taken private.

Joint private equity owners BC Partners and Pollen Street Capital are said to be holding talks with investment banks about a potential flotation.

Sky News said discussions are at an early stage and could result in a sale to another bank or financial investor, or in the current shareholders opting to retain control for a longer period.

Shawbrook was launched a decade ago in the aftermath of the 2008 financial crisis, with a focus on lending to small and medium-sized businesses.

It was chaired by former RBS chairman and chief executive Sir George Matthewson from October 2011 until a few months after it raised £90 million on the stock market in April 2015.

The IPO valued the bank at £725m and it was taken private two years later in an £805m deal.

Sources suggest it could be worth well over £1bn in a 2022 flotation or sale, with the company having more than doubled its profits since its owners took an equal share of the business.

It has invested heavily in its technology platform in recent years.

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