The fundraising, which is expected in the first half of next year, is likely to be the last round before the mobile app-based bank floats on the London Stock Exchange. Atom, headquartered in Durham, England, has been forced to delay its initial public offering this year as a result of a tough market environment, which has led to a number of companies shelving their IPOs. Atom is hoping to float in 2024 once the new shareholders are on board, the person familiar with the bank’s plans said.
Gary Greenwood, an analyst at Shore Capital, said: “They can make the business work with deposits. They also have an operational advantage in terms of costs, being digital-only without a branch network.”
https://www.ft.com/content/bc16e3f0-f71b-4419-8793-f273b11ad63d?stream=top