UK challenger Bank Shawbrook has priced its initial price offering at 290p per ordinary share, giving the company a market capitalisation of £725m (996m).
Through the sale of 75m shares the bank aims to raise approximately £90 million from the IPO.
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Chief executive officer at Shawbrook, Richard Pyman said: "We are delighted that our initial public offering has been successfully received by investors and we welcome them to our business. Our focus remains on providing UK customers with a fresh, pragmatic approach to lending and savings whilst driving further growth by maximising opportunities in existing markets, capitalising on the embedded growth in our current loan book and developing a range of products to facilitate expansion into adjacent segments."
The listing comes a short time after rival Aldermore listed, which saw its shares rising from 192p to 233p in the first few weeks of floatation.
Shawbrook was launched in 2011 and has lent to over 60,000 small and medium-sized businesses and consumers in the UK.
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