Shawbrook IPO plans have been confirmed as the bank steps forward to join the main market of the London Stock Exchange, underscoring a revival in the UK’s initial public offering activity.

Return to London markets

Shawbrook, based in Essex, has published its registration document today ahead of applying for admission to the LSE main market. Analysts estimate the company could be valued at up to £2 billion upon flotation. The move suggests renewed confidence in London’s listing environment.

Once a London‑listed institution, Shawbrook was acquired in July 2017 by a consortium led by BC Partners and Pollen Street Capital. The bank now aims for a free float of at least 10 percent of its issued equity. It further anticipates eligibility for inclusion in the FTSE UK indices.

Goldman Sachs, Barclays and Deutsche Bank have been appointed as joint bookrunners for the proposed offering.

Strategic rationale

In its statement, Shawbrook noted that an IPO would “position the Group well for the next stage of its evolution, supporting its ambitious growth plans.” Beyond enhancing its public profile, the listing could aid in management and employee retention by providing new equity incentives. The IPO would also offer Marlin Bidco Limited—the current sole shareholder—an opportunity to monetise part of its long‑term investment after years of private ownership.

Growth ambition and M&A track record

Shawbrook has outlined medium‑term objectives for low double‑digit annual growth in its loan book, targeting nearly £30 billion in total lending by 2030. Its recent expansion has been fuelled by acquisitions: while unsuccessful bids for Metro Bank and Co‑op Bank in 2023 underscored ambition, the group did complete the acquisition of specialist lender Bluestone Mortgages in the same year.

CEO Marcelino Castrillo remarked, “We have achieved real scale, and our current markets are large and growing, supported by attractive tailwinds. We also see a significant opportunity to bring Shawbrook’s offering to new customer segments.”

Broader IPO market resurgence

These listing plans come amid signs that London’s IPO market is staging a comeback. The LSE had fallen to 23rd globally by funds raised by mid‑Q3, but renewed activity now suggests a rekindling of interest in the UK capital markets.

Last week saw successful listings including US energy developer Fermi (which also floated in New York) and Cheshire’s Beauty Tech Group, which debuted at 271 pence per share, valuing it at approximately £300 million.