Funding Circle hires four banks for stock market flotation
FUNDING Circle has reportedly hired four City heavyweights to lead its initial public offering (IPO) in the second half of this year.
The peer-to-peer business lender has appointed Bank of America Merrill Lynch, Goldman Sachs, Morgan Stanley and Numis Securities to lead the flotation, according to a Sky News report that cited no sources.
Read more: Stock market flotations will take P2P to the next level
Some existing investors believe the float will value Funding Circle at well over £1.5bn, according to the Sky News report.
Funding Circle declined to comment when contacted by Peer2Peer Finance News.
Read more: Funding Circle poised for £1bn float
If its flotation plans are realised later this year, the firm is set to be the first UK IPO of a P2P lending platform.
The other ‘big three’ P2P lenders are likely to follow suit.
RateSetter’s chief executive Rhydian Lewis has confirmed the company’s plans to float, although no specific timeframe has been confirmed.
And Zopa co-founder Giles Andrews has in the past described a public listing as a “natural route” for the business.