Shawbrook, the UK challenger bank owned by BC Partners and Pollen Street, is preparing to file for an initial public offering in London that could value the business at as much as £2bn ($2.7bn), according to Reuters.

The move would mark a return to the public markets for Shawbrook, which was taken private by its current owners in 2017. Earlier this year, IPO preparations were paused due to market volatility, but the deal is now expected to be announced in the coming days.

A successful flotation would be one of London’s largest in years and provide a rare boost for the city’s equity markets, which are on track for their lowest number of listings on record in 2025. Just nine companies have listed so far this year across the main market and AIM, despite regulatory reforms introduced in 2024.

BC Partners and Pollen Street have explored strategic options for Shawbrook in recent years, including merger discussions with Metro Bank and Co-op Bank. A public listing would create liquidity and position the lender for further growth.

Other IPOs on the horizon include Princes and Beauty Tech Group, while private equity firm Hg has provisionally selected London for a 2026 listing of software giant Visma, potentially valuing the company at $20bn.

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