You are here: Home - News -

Aldermore bank returns to flotation plans

by:
  • 02/02/2015
  • 0
Aldermore bank returns to flotation plans
Challenger bank Aldermore has dusted down shelved plans for a stock market float.

The Sunday Times reported over the weekend that the lender is out talking to investors again and is looking to go public next month.

Aldermore was forced to shelve its plans to list in October after the global stock market slump caused pricing problems for several mortgage firms including MAB and Virgin ahead of successful listings.

Aldermore chief executive Phillip Monks was aiming to raise £75m to fund growth, with buyout firm AnaCap expected to sell part of its majority stake.

Aldermore’s loan book stood at £4.4bn at the end of September 2014 after rising by 10% in just three months.

Aldermore Bank’s third quarter results have shown residential mortgage lending results up 12%.

Loans to homeowners were at £2294m at the end of September, up 12% on June this year and 37% higher than at the beginning of the year.

 

 

There are 0 Comment(s)

You may also be interested in