Charter Court Financial Services Group has announced plans to float on the London Stock Exchange.
The IPO will comprise an issue of new shares by the company and the sale of a portion of the company’s existing shares held by its major shareholders, Elliott International L.P. and Elliott Associates L.P., and certain members of the group’s management, in aggregate to achieve a free float of at least 40%.
The shares will be offered in the IPO to institutional and other professional investors in the UK and internationally.
Alan Cleary (pictured), managing director of Precise Mortgages, said: “We see an exciting future ahead for Charter Court as a specialist lender, purpose-built by the management team from the ground up for growth in our specialist mortgage markets as they continue to professionalise and increase in complexity. We are well positioned to take advantage of this trend.
“Since our formation in 2008, the hard work in building this bank and its scalable growth platform has been achieved and the volume of our business already is outstripping some of our listed competitors. We are now focused on the next phase of our development and I believe our IPO and listing will further enhance Charter Court’s profile and support our future growth.”