Aldermore Raises $340 Million in London Initial Public Offering
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Aldermore Group Plc, a U.K. lender seeking to challenge the dominance of the nation’s big banks, raised 226 million pounds ($340 million) in an initial public offering.
The bank, which lends to individuals and small- and medium-sized businesses, sold 117.9 million shares for 192 pence apiece, toward the top of the range used to canvass investor interest in the stock, according to a statement on Tuesday. The IPO values the lender at about 651 million pounds.