You are here: Home - Saving & Banking - News -

The blue corner; key challenger bank makes stock market debut

0
Written by:
12/03/2015
Challenger bank Aldermore made its stock market debut this week, in an IPO that raised £226m.

Aldermore shares jumped by 12 per cent following their debut with private equity backer AnaCap netting approximately £150m. The bank sold 117.9m shares for 192p apiece, around 35 per cent of the company.

The IPO attracted interest from many quarters, including long-term, blue-chip orientated private investors in the UK and US, and hedge funds. Demand exceeded the amount of available shares five times over.

Aldermore has sought to establish itself as a leading challenger bank, taking on the UK ‘Big Five’ (Barclays, HSBC, Lloyds, RBS and Santander) by lending to individuals and SMEs at competitive rates. The bank also makes much of the fact that they are unblemished by past misconduct and ongoing investigations.

Last year, Aldermore’s net lending grew by 42 per cent, to £4.8bn; the bank expects to match this performance in 2015.

“The success of our IPO is testament to the strength of our story as a legacy-free bank,” said Aldermore chief executive Philip Monks. “It’s a natural next stepping stone for us to go to markets that have deeper and broader pools of capital. The company will after a while outgrow private equity and we were getting towards that stage.”

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

The savings accounts paying the most interest

It’s time to get your finances in shape, and moving your cash savings to a higher paying deal is a good plac...

Everything you need to know about being furloughed

Few people had heard of ‘furlough’ before March 2020, but the coronavirus pandemic thrust the idea of bein...

The experts’ guide to sorting out your personal finances in 2021

From opting to ‘low spend’ months to imposing your own ‘cooling-off period’, industry experts reveal t...

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Having a baby and your finances: seven top tips

We’re guessing the Duchess of Cambridge won’t be fretting about maternity pay or whether she’ll still be...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Money Tips of the Week