OneSavings Bank plc has published the pricing of its initial public offering.

The offer price has been set at 170 pence per ordinary share.

This values OneSavings Bank at around £413m.

The global offer is expected to raise approximately £134m for the company and major shareholder OSB Holdco.

Andy Golding, chief executive of OneSavings Bank, said: “We are very pleased with the success of our IPO and with the strong support that we have seen for OSB’s shares from top tier investors. We are excited about the next phase of OSB’s development and extremely confident that we have the right management and strategy in place to deliver long-term shareholder value, and a great customer proposition.”