Anacap’s Aldermore, a lending bank, lists on the London Stock Exchange with a market capitalisation of £650M

Aldermore Group PLC (“Aldermore” or “the Company”) today announces the pricing of its initial public offering (the “IPO” or “Offer”) of 117,934,783 Ordinary Shares (the “Shares”) at 192 pence per Ordinary Share (the “Offer Price”).

• Based on the Offer Price, the total market capitalisation of Aldermore at the commencement of conditional dealings will be approximately £651 million.
• The Offer represents 34.8% of Aldermore’s issued share capital on Admission.
• The Offer comprises an offer of 39,062,500 new Shares to be issued by the Company to raise gross proceeds of £75 million. The net proceeds from the Offer receivable by the Company will be used to support the medium term growth of the business.
• The Offer also comprises a sale by AnaCap Financial Partners L.P., AnaCap Financial Partners II, L.P., AnaCap Derby Co-investment (No.1) LP and AnaCap Derby Co-investment (No.2) L.P. (together “AnaCap”) of a portion of their existing holding of Shares. No member of the Company’s Board or senior management team is selling Shares.
• Each of the Company, its directors, AnaCap and certain other Shareholders have agreed to lock-up arrangements in respect of their remaining holdings of Shares for specified periods of time following Admission.
• In relation to the Offer and Admission, Credit Suisse Securities (Europe) Limited (“Credit Suisse”) and Deutsche Bank AG, London Branch (“Deutsche Bank”) acted as Joint Global Coordinators and Joint Bookrunners, RBC Europe Limited (trading as “RBC Capital Markets”) acted as Joint Bookrunner. Deutsche Bank is acting as Sponsor. Nomura International plc (“Nomura”) and Numis Securities Limited (“Numis”) acted as Co-Lead Managers. Lazard & Co., Limited (“Lazard”) is acting as Financial Adviser to both the Company and AnaCap.

Admission and dealings

• Conditional dealings will commence on the London Stock Exchange at 8.00am today under the ticker “ALD” (ISIN: GB00BQQMCJ47).
• Admission to the premium listing segment of the Official List and to trading on the Main Market of the London Stock Exchange and the commencement of unconditional dealings are expected to take place at 8.00am on 13 March 2015.

Phillip Monks, Chief Executive Officer, commented: “This is an exciting moment for Aldermore. The success of our IPO is testament to the strength of our story as a legacy-free bank focused on providing banking services to SMEs and homeowners. It’s also a clear demonstration that the investment community shares our confidence in our ability to continue delivering profitable and sustainable growth for our investors.

“We believe that becoming a listed company will further support our development by allowing us to provide flexible and straightforward products and customer-focused banking services to British SMEs and homeowners.
“I would also like to personally thank all of my colleagues for their hard work and commitment. Something all the team shares is an enormous sense of pride in how we serve our growing number of customers and the achievements we have made so far. To demonstrate our gratitude, and to ensure all of our team can participate in our future success, I’m delighted to announce that we will be awarding Aldermore shares of up to £1,000 in value to each of our employees.”

About Aldermore

Aldermore provides a range of straightforward banking products and services to UK homeowners and Small and Medium Enterprises (SMEs) with a focus on the large, attractive lending segments of Asset Finance, Invoice Finance and Mortgages.

Source: Aldermore Press Release

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