Slaughter and May is advising Shawbrook Group on its initial public offering
Slaughter and May, working as an integrated team with Paul, Weiss, Rifkind, Wharton & Garrison LLP, is advising Shawbrook Group plc ('Shawbrook') and its principal shareholder, a fund advised by Pollen Street Capital, on Shawbrook’s initial public offering of its ordinary shares.
Shawbrook is a rapidly growing UK specialist lending and savings bank founded in 2011 which provides loans to UK small and medium-sized businesses and consumers. Shawbrook had £2.8 billion of assets, approximately 105,800 lending and savings customers and over 460 employees as at 31 December 2014.
Shawbrook has applied for listing on the premium listing segment of the Official List. The offer price of 290 pence per ordinary share will give Shawbrook a market capitalisation on admission of approximately £725 million. The offer comprises the sale of a portion of ordinary shares held by a fund advised by Pollen Street Capital, certain other shareholders and management plus a primary issue of new ordinary shares by Shawbrook to raise gross proceeds of approximately £90 million.
Slaughter and May is supporting Shawbrook’s Legal Director and Company Secretary Daniel Rushbrook and Legal Counsel Sam Foskett.
Paul, Weiss, Rifkind, Wharton & Garrison LLP is advising on U.S law.