Shares of Metro Bank, the money-losing British lender started in 2010 by the American financier Vernon W. Hill II, rose 4 percent Monday morning in the company’s debut on the London Stock Exchange.
The lender said on Friday that it had raised 400 million pounds, or about $569 million, in a private sale of securities before going public. Metro Bank sold shares to new and existing shareholders at £20 each, valuing the lender at about £1.6 billion. Shortly after its debut on Monday, the company’s shares rose 4 percent to £20.80 in conditional trading, after having gained as much as 9 percent. Metro Bank finished the day up 7.5 percent, at £21.50.