London Stock Exchange Booms: Shawbrook Bank Joins IPO Rush as Chancellor Backs UK Listings
London's appeal as a capital-raising venue has been reaffirmed by Shawbrook's finance chief, Dylan Minto. Meanwhile, the Chancellor is exploring ways to boost the UK's attractiveness for listings, including a potential stamp duty holiday for newly-listed shares. Tech companies like SumUp and Monzo are set to meet with the Chancellor at a JP Morgan event to promote the UK stock market today.
Last week saw the London Stock Exchange welcome Beauty Tech Group and US data centre giant Fermi, with tinned tuna firm Princes also announcing plans for an initial public offering (IPO). Adding to this momentum, Shawbrook Group PLC, a British digital bank, has confirmed its intention to float on the London Stock Market, potentially valuing the company at up to £2 billion.
The Chancellor, Rishi Sunak, has been actively engaging with potential listing candidates. He recently held talks with OakNorth and Starling at a Goldman Sachs meeting. Speculation is also rife that digital bank Revolut is considering a dual listing in London and New York. Analysts like Laura Janssens of Berenberg predict a significant improvement in the UK IPO market by the end of 2025.
With Shawbrook's IPO plans and the Chancellor's supportive measures, London's status as a global financial hub is being reinforced. The UK stock market is expected to see more listings and growth in the coming years.
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