TSB Banking Group joins London Stock Exchange Main Market

  • Paul Pester, CEO, TSB Banking Group opens London trading
  • IPO raises £455 million, valuing company at £1.3 billion
  • 3rd bank to list in London in 2014

London Stock Exchange today welcomes TSB Banking Group to the Main Market. The company spun out of Lloyds Banking Group raised £455 million on admission, valuing the company at £1.3 billion. Paul Pester, TSB Banking Group CEO formally opened the market to celebrate the occasion.  

The IPO is the latest to feature a significant allocation of shares to private investors. In total, 30 per cent of the company’s shares were allocated to individual investors.

TSB Banking Group is the 3rd bank to list in London in 2014. To date in 2014, there have been 69 IPOs on our markets, raising £10.37 billion – an increase of over 190 per cent on the same period in 2013.

John Millar, Head of Primary Markets, London Stock Exchange Group said:
“Private investors have a significant part to play in the financial markets and their participation in IPOs should be encouraged. Benefits include more diversified shareholder bases and increased secondary market activity, adding to the liquidity of stocks. We are delighted to welcome TSB Banking Group and new investors to our markets today.”

Paul Pester, CEO, TSB Banking Group said:
“The journey to build TSB, with the aim of bringing more competition to UK banking and better banking for UK consumers, has brought us a long way.  In the first four years of our journey we’ve moved from a “blue print” for the bank, through the build and to the launch of TSB Bank on Britain’s high streets in September last year. 

“Today is another great milestone for us as shares in TSB Banking Group are admitted to trading on the London Stock Exchange.  Today is also the day when each of TSB’s employees receives shares in TSB Banking Group, making all of our people true Partners in the business.”

- Ends -

For further information:

Alexandra Ritterman         +44 (0)20 7797 1222

                                        newsroom@lseg.com

Notes to editors:

About London Stock Exchange Group:

London Stock Exchange Group (LSE.L) is a diversified international exchange Group that sits at the heart of the world's financial community. The Group can trace its history back to 1801.

The Group operates a broad range of international equity, bond and derivatives markets, including London Stock Exchange; Borsa Italiana; MTS, Europe's leading fixed income market; and the pan-European equities platform, Turquoise. Through its markets, the Group offers international business, and investors, unrivalled access to Europe's capital markets.

Post trade and risk management services are a significant and growing part of the Group’s business operations. LSEG operates CC&G, the Rome headquartered CCP and Monte Titoli, the significant European settlement business, selected as a first wave T2S participant. The Group is also a majority owner of leading multi-asset global CCP, LCH.Clearnet.

The Group offers its customers an extensive range of real-time and reference data products, including Sedol, UnaVista, Proquote and RNS. FTSE calculates thousands of unique indices that measure and benchmark markets and asset classes in more than 80 countries around the world.

London Stock Exchange Group is also a leading developer of high performance trading platforms and capital markets software. In addition to the Group’s own markets, over 40 other organisations and exchanges around the world use the Group’s MillenniumIT trading, surveillance and post trade technology.

Headquartered in London, United Kingdom with significant operations in Italy, France, North America and Sri Lanka, the Group employs approximately 2,800 people.

Further information on London Stock Exchange Group can be found at: www.lseg.com