London Stock Exchange today welcomed Aldermore Group PLC

London Stock Exchange today welcomed Aldermore Group PLC to open the market on the first day of unconditional dealing in the Company’s primary listed ordinary shares following its successful IPO.

Aldermore is a British bank focused on providing lending to Small and Medium-sized Enterprises (SMEs) and homeowners. It is a "legacy-free" bank which employs a modern digital platform to support its customer-centric proposition and provide a scalable, efficient operating model. Aldermore’s lending is primarily supported by its SME and retail deposit franchise.

Aldermore was founded in 2009 following the acquisition of Ruffler Bank plc and Base Commercial Mortgages Limited by AnaCap Financial Partners LLP. The Bank has since developed into a multi-product, asset-based lender with £5.6bn of assets, over 160,000 customers and approximately 875 employees.

Phillip Monks, Chief Executive Officer, said: "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 growth for our investors."

Credit Suisse and Deutsche Bank were Joint Global Co-ordinators and Joint Bookrunners, RBC Capital Markets was Joint Bookrunner. Deutsche Bank is Sponsor. Nomura and Numis acted as Co-Lead Managers. Lazard advised the Company and selling shareholder. Linklaters acted as legal counsel to Aldermore, KPMG as auditor and FTI Consulting as financial PR advisor.