Funding Circle confirms intermediaries for IPO

By Ryan Weeks on 10th September 2018

P2P/Marketplace Lending

Individuals will be able to invest in the listing via a number of stockbrokers.

Funding Circle confirms intermediaries for IPO

After publishing its Registration Document last week, peer-to-peer lending firm Funding Circle has this morning confirmed its intention to float. The company has provided further details on the offer.

Part of the landmark float – the first for a UK peer-to-peer lender – will be reserved for intermediaries, allowing qualifying individual investors to participate. The minimum investment size has been set at £1,000.

Well-known stockbrokers and share dealing platforms, including AJ Bell Youinvest, Hargreaves Lansdown and IG Group, are involved. The full list of the participating intermediaries is available below.

The IPO itself is expected to take pace in October – with Funding Circle expecting to become eligible for inclusion in the FTSE indices once trading begins.

This morning’s update also confirms Merrill Lynch, Goldman Sachs and Morgan Stanley as joint global co-ordinators and join bookrunners, with Numis also acting as a joint bookrunner, as was first reported in a Sky News piece earlier this year. BofA Merrill Lynch is acting as sole sponsor on the offer.

Heartland A/S, the private holding company of Danish billionaire Anders Holch Povlsen, has agreed to backstop the IPO with a purchase order for 10 per cent of the issued shares at a maximum valuation of £1.65bn.

Participating intermediaries:

  • AJ Bell Youinvest
  • Albert E Sharp
  • Barclays Smart Investor
  • Cornhill Capital Limited
  • Hargreaves Lansdown
  • Limited
  • IG Group
  • Interactive Investor
  • RedmayneBentley Stockbrokers
  • Saga Share Direct
  • Selftrade
  • Sharedeal Active
  • Shareview
  • SVS Securities Plc
  • The Share Centre
  • WH Ireland Limited


AltFi London Summit 2019

Now in its sixth year, the AltFi London Summit returns on 18th March 2019 to 155 Bishopsgate. Last year proved to be a crucial turning point for the key players building the future of finance. Leading platforms launched oversubscribed IPOs, digital banks proliferated and mainstream financial institutions started their own disruptive propositions. With 2019 certain to be another landmark year, more questions will be asked by regulators with investor interest in disruption also poised for more rapid growth.

18th March 2019

Companies in this Article:

Funding Circle
IG Group
Morgan Stanley

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