Shawbrook Bank plans a £50 million London IPO and wants to double its loan book by 2030

British specialist lender Shawbrook Bank plans to raise £50 million of new shares in a London initial public offering, alongside a sale of existing shares by Marlin Bidco. The company is targeting an early November 2025 listing on the London Stock Exchange. The offer will include an over-allotment option of up to 15%.

Shawbrook has published an FCA-approved registration document and says it will seek admission to the Official List and the Main Market. The bank expects a free float of at least 10% and FTSE UK index eligibility after admission. Goldman Sachs, Barclays and Deutsche Bank are among the bookrunners. UK retail investors will be able to take part via RetailBook.

Growth has been steady this year. At June 30, 2025, Shawbrook’s loan book stood at £17.0 billion and deposits at £16.7 billion. In September, the group completed the acquisition of ThinCats, which adds a ~£0.7 billion loan book to its SME franchise.

Management’s plan is to keep expanding in real estate finance, business lending and savings. The bank is targeting low double-digit loan growth and a ~£30 billion book by 2030. In the first half of 2025, underlying profit before tax rose 35% to £168.6 million, with an underlying return on tangible equity of 18.3%.

Chief executive Marcelino Castrillo said a listing would broaden funding and help reach borrowers that big banks often overlook, including SMEs and property investors, calling an IPO an “important milestone” for the next phase.

The market backdrop has eased. On August 7, 2025, the Bank of England cut Bank Rate to 4%, the lowest since March 2023. Lower costs tend to support deposit-rich lenders, though politics and trade tensions still pose risks.

What’s next: Pricing will come before bookbuild. Press reports suggest a valuation near £2 billion if conditions hold. Shawbrook has been backed by BC Partners and Pollen Street Capital since a 2017 take-private.