Shawbrook Shares Rise in Debut Testing London IPO Appetite (1)

Shawbrook Group Plc shares advanced in their London debut in a welcome boost to the UK capital market following years of muted activity in initial public offerings.

The specialist lender’s stock closed at 395 pence per share in London, 6.8% above the IPO price of 370 pence. The offering raised a total of £348 million ($459 million), mostly for Shawbrook’s owners, with the bank itself gaining £50 million.

The IPO was priced in the middle of its earlier marketed range, helping the debut. It’s the largest float in London by a domestic firm since 2021 and comes after the UK ...