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Funding Circle IPO

Funding Circle IPO

This offer is now closed for applications through interactive investor

We have always believed Funding Circle would be well-suited to the public markets and today's milestone is recognition of the strength and global impact of our model. We look forward to starting this exciting new chapter for the business as we focus on growth across all markets and seek to create a better financial world for small businesses and investors. I am pleased to welcome our new shareholders and I would like to thank my fellow Circlers for all their hard work since we launched. Funding Circle is a very ambitious company and we are excited to continue growing our business over the coming years. The UK is a great place to start and grow a FinTech business and we are proud of today's accomplishment.

Samir Desai, CEO and co-founder of Funding Circle

28th September 2018

results of the issue

  • Funding Circle plc has announced that the Offer Price has been set at 440 pence per share.
  • The Offer comprises 68,181,818 New Shares and 31,953,668 Existing Shares, representing 29.3% of the Company's issued Shares immediately following Admission, excluding the Over-allotment Option.
  • Immediately following Admission, the issued share capital of the Company will be 341,805,700 Shares.
  • On the basis of the Offer Price, the market capitalisation of the Company at the commencement of conditional dealings will be approximately £1,504 million, based on the number of Shares outstanding. On a fully diluted basis (including vested and unvested options), the Company's equity value would be approximately £1,595 million.
  • The Offer will raise total gross proceeds of £300 million for the Company, and £141 million for the Selling Shareholders assuming no exercise of the Over-allotment Option and £185 million assuming exercise in full of the Over-allotment Option.

Allocations have been met in full, meaning customers will receive 100% of the amount they applied for. 

Share allocations have been applied to accounts on Friday 28th September, and will be confirmed in writing.

offer period

  • The Offer Period for the Funding Circle IPO opened on Wednesday 19 September 2018, following publication of the Prospectus.
  • The Offer Period closed at 3pm on Thursday 27 September 2018.

trading starts

  • A period of conditional dealing is expected to commence at 8am on Friday 28 September 2018.
  • When admitted to trading, the shares will be registered with SEDOL (Stock Exchange Daily Official List) number BG0TPX6 and trade under the symbol "FCH".
  • Unconditional dealing is expected to commence at 8am on Wednesday 3 October 2018.
  • If you buy or sell Funding Circle shares after admission the relevant share dealing rate will apply.
  • Trades executed during the conditional dealing period can only settle once trading has become unconditional,
  • During the conditional dealing period Funding Circle Holdings shares allocated to an ISA or SIPP can be sold but additional shares cannot be bought in these accounts until the shares are trading unconditionally.

key information

Price Range:  £4.20 to £5.30
Minimum investment: £1,000 (multiples of £1 thereafter)
Stock ticker: FCH

expected timetable

Offer open: 19 September 2018
Offer close:  27 September 2018 (3pm)
Result announced:  28 September 2018 (7am)
Conditional dealing starts:  28 September 2018 (8am)
Unconditional dealing starts:  3 October 2018 (8am)

offer documents

Interactive Investor Services Limited uses the Funding Circle Holdings Limited Prospectus in accordance with the Company's consent and the conditions set out in the Funding Circle Holdings Limited Prospectus.

This website is issued by, and is the sole responsibility of, Interactive Investor Services Limited. This website is an advertisement and not a Prospectus. Any application to participate in the Offer can and will only be made on the basis of the Prospectus, together with any supplements thereto.

Investing in IPOs carries a high degree of risk. If you are unsure of the suitability of an investment please seek Financial Advice. You are not guaranteed to make a profit, the value of your investments can go down as well as up. You may not get back all the money you invest. Any notification of an IPO on our website is not an endorsement of the issue, nor is it solicitation for interest in the issue. Investment in the Company should not be regarded as short-term in nature. You should consider carefully all of the information set out in the Prospectus, including all the risks attached to investing in the Company before you apply.

"Funding Circle Holdings Limited" and the Funding Circle Holdings Limited logo are registered trademarks of Funding Circle Holdings Limited. Reproduced by kind permission of Funding Circle Holdings Limited. All rights reserved.

This website is issued by, and is the sole responsibility of, Interactive Investor Services Limited.

This announcement has been prepared and is the sole responsibility of Interactive Investor Services Limited of Exchange Court, Duncombe Street, Leeds, LS1 4AX, which is an authorised person for the purposes of the Financial Services and Markets Act 2000.