UK specialist lender Shawbrook has confirmed that it is planning a November initial public listing on the London Stock Exchange.
Shawbrook is seeking to raise £50 million at a £2 billion valuation through the listing.
Shawbrook was launched in 2011 when Pollen Street Capital, which at the time was part of Royal Bank of Scotland, bought Whiteaway Laidlaw Bank, which was then rebranded as Shawbrook.
The IPO will feature both newly issued shares from Shawbrook and existing shares sold by Marlin Bidco - the vehicle through which Pollen Street Capital and BC Partners own the bank. Up to a further 15% of the offer could be made available under an over-allotment option.
Shawbrook says that its loan book grew to £18.3 billion as of the end of September, up from £17 billion at the end of the second quarter.