< p>After scrapping its IPO plans last October due to market in stability, Aldermore has revived its floatation plans, scheduling the launch for next month.

The challenger bank, which recently reported a doubling in profits before tax, has stated that the offer of new shares to be issued by the company will raise gross proceeds of around £75 million.

Also, post completion the offer is set to represent approximately 40 per cent of the company’s issued share capital.

Chief Executive Officer of the Bank, Phillip Monks said: "Now is the right time for Aldermore to seek a listing on the London Stock Exchange.  As our strong performance in 2014 highlights, we have consistently delivered on our ambitious targets and we have proven our ability to grow organically and profitably.”

“Now in our sixth year, Aldermore has demonstrated strong and sustainable levels of profitable growth, as seen most recently in our record full year results; we have been clear that we view the public markets as the right place for us to be as we look to maintain this momentum.”

The subject of the initial dividend is understood to be projected for advance from 2017.

Aldermore intends to apply for admission of the Company's Shares to the premium listing segment of the Official List of the FCA and to trading on the main market for listed securities of the London Stock Exchange.

The bank’s targeted lending segments are: Asset Finance, Invoice Finance, SME Commercial Mortgages and Residential Mortgages. Aldermore is funded predominantly through online retail and SME deposits, serving around 160,000 customers.  

Reports have circulated as of late regarding an IPO listing from Shawbrook Bank ahead of May’s election.  The challenger bank declined to comment on the rumours with speculation on Shawbrook’s floatation lingering since last year.