IPO price values UK bank Aldermore at £800m

UK 'challenger bank' Aldermore is set to float later this month, with a share price which values the business at around £800m.

The retail bank plans to make its initial public offering (IPO) on 17 October when it lists on the main market of the London Stock Exchange.  Ordinary shares will be priced between 217p and 265p, implying a market capitalisation of about £800m. The base deal size of £300m includes a £75m primary capital increase with the balance comprising secondary shares. There will also be an overallotment option of up to 15% of the base deal size.   Final pricing is expected to be announced on 17 October. Aldermore, partly owned by private equity fund AnaCap Financial Partners, specialises in...