Funding Circle set for September float
FUNDING Circle is rumoured to be planning an initial public offering (IPO) within the next two weeks, according to reports.
The peer-to-peer lender is reported to be gearing up for a stock market listing in the second week of September.
The listing will value the company at £1.5bn, the Daily Mail claims.
Bank of America Merrill Lynch, Goldman Sachs, Morgan Stanley and Numis Securities are believed to have been lined up to oversee the float.
Funding Circle declined to comment.
The P2P giant has been rumoured to have been planning an IPO since the start of the year.
It appointed former 02 customer director and Tesco Mobile chair Cath Keers as a non-executive board member in May, reigniting rumours of a planned flotation.
Keers becomes the first female non-executive director (NED) on the platform’s board.
Publicly-listed companies are expected to have at least one in three female directors on their board by 2020.
The UK’s P2P sector is yet to see a stock market flotation, despite rumours surrounding Funding Circle and fellow ‘big three’ platform RateSetter.
RateSetter’s chief executive Rhydian Lewis has confirmed the company’s plans to float, although no specific timeframe has been confirmed.