Pollen Street's Shawbrook prices IPO

The listing, which comprises 75 million ordinary shares priced at 290 pence apiece, is expected to raise gross proceeds of £90m for the company.

The offering also includes an over-allotment option for 11.25 million shares – equivalent to a 15% stake in the company.

Following admission, Pollen Street will remain Shawbrook's largest shareholder with a 59% stake.

Since the GP's first investment, the business has undertaken an acquisitive growth strategy, bolting on Commercial First, Singers Asset Finance and Centric Commercial Finance. The company also acquired a portfolio of secured loans from Link in August 2011.

Previous funding

Pollen Street Capital – then known as Special Opportunities Fund – first invested in Shawbrook in 2011, which was known as Whiteaway Laidlaw Bank at the time. 

Company
Founded in 2011 and headquartered in Brentwood, Shawbrook is a lending and savings bank for for SMEs. The business provides commercial mortgages, asset finance, business credit, secured lending and consumer lending. It has loaned £2.3bn and raised £2.4bn in deposits.

People
Richard Pyman is CEO of Shawbrook. 

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