Aldermore Bank has announced plans to float on the London Stock Exchange (LSE) next month that could value the specialist bank between £800m and £900m.
The bank, founded in May 2009, hopes to raise £75m in new cash while original private equity backer Anacap, other later investors and management, led by chief executive Philip Monk, could sell shares worth £200m.
Go deeper with GlobalData
Aldermore chief executive Phillip Monks said the flotation was necessary to continue growth in lending activities such as asset finance and lending to small businesses and for home loans.
"We want to be able to grow at the phenomenal rate we have been," Monks added.
The lender also announced that its pre-tax profit in the six months to June rose 250% to £18.6m compared with the same period last year.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
