The bank will receive approximately £41.5m of gross proceeds from the global offer, with the remainder of the funds going to its major shareholder OSB Holdco Limited.
Andy Golding, chief executive of OneSavings Bank, said: “We are very pleased with the success of our IPO and with the strong support that we have seen for OSB’s shares from top tier investors.
“We are excited about the next phase of OSB’s development and extremely confident that we have the right management and strategy in place to deliver long-term shareholder value and a great customer proposition.”
Barclays Bank , through its investment arm will act as global co‐ordinator for the IPO.
OSB is one of several major lenders with plans to float on the stock market.
Lloyds Banking Group announced its plans to float TSB this summer and Virgin Money has begun making preparations for a listing next year.
Metro Bank is considering an IPO in 2016 while challenger bank Aldermore has stated its intentions to float but no date has been indicated.
Conditional dealings of OSB share, where unofficial trading usually by institutional investors takes place, began at 8.00am this morning.
Admission to the main market of the London Stock Exchange and commencement on unconditional dealings is expected to take place at 8.00am on 10 June.
