Reuters: Shawbrook Bank Eyes £2B London IPO Amid Market Hesitation

British bank Shawbrook is reportedly considering an initial public offering (IPO) in London, potentially valuing the lender at up to £2 billion ($2.7 billion), according to Reuters. Sources familiar with the matter suggest the IPO filing could occur in the coming days, potentially marking one of the largest market debuts in London in recent years. Shawbrook, currently owned by private equity firms BC Partners and Pollen Street, is expected to announce its plans after previously delaying IPO preparations earlier this year due to market volatility. However, sources emphasize that a final decision has not yet been made, and Shawbrook declined to comment. A public listing would represent Shawbrook's return to the stock market after being taken private by BC Partners and Pollen Street in 2017. Over the past two years, the bank's owners have also explored strategic alternatives, including potential transactions with competitors such as Metro Bank and Co-op Bank. The potential IPO could provide a significant boost to London's capital markets, which have experienced a decline in new listings. London is on track for its lowest number of IPOs on record, with only nine companies listing so far this year across the main market and the junior AIM, according to data from the London Stock Exchange. Despite policymakers and regulators overhauling listing rules last year to attract more companies, the changes have not yet yielded substantial results. Despite the current downturn, some advisors express optimism about a potential recovery in the coming months. Several companies, including Princes and Beauty Tech Group, have announced plans to float in London, and private equity firm Hg has tentatively selected London for an IPO of its software company, Visma.