(Bloomberg) -- The owners of Shawbrook Group Plc are working on plans to list the UK lender in London in the first half of this year, Sky News reported, citing people close to the matter it didn’t identify.
BC Partners and Pollen Street Capital are close to appointing Goldman Sachs Group Inc. to oversee the initial public offering that could value the mid-tier bank at more than £2 billion ($2.5 billion), according to Sky. Other investment banks including Barclays Plc may also play a role, it said.
No decision to proceed with a listing has been taken, and any such step would depend on market conditions, the people told Sky.
Shawbrook, BC Partners and Pollen Street all declined to comment to the news channel.
A flotation would jump-start a London IPO market that has lost appeal in recent years and revisit exit plans by Shawbrook’s owners. BC Partners had previously enlisted Bank of America Corp. and Morgan Stanley to advise on options including an IPO, Bloomberg reported in 2022.
BC Partners and Pollen Street Capital led a consortium that acquired the firm in 2017 in a deal valued at £861 million.
Shawbrook, founded in 2011 as a specialist UK savings and lending bank, offers personal loans on everything from home improvement to weddings. It also provides business and property financing and agreed in June to buy specialist motor finance lender JBR.
Fast-fashion retailer Shein is also weighing a potential IPO in London, Bloomberg reported in October.
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