Charter Court’s offer price for Shares sold in its initial public offering (IPO) has been set at 230p per share.

This suggests a market capitalisation of Charter Court of around £550 million.

The offer comprises 86,956,515 existing shares and 8,695,652 newly issued shares representing approximately 40% of Charter Court’s total share capital on admission, valuing the global offer at £220 million.

The Company will receive approximately £20 million of gross proceeds from the Global Offer.

Ian Lonergan, CEO of Charter Court Financial Services, said: “Today’s announcement reflects the high level of investor interest shown in our IPO and is a clear endorsement of Charter Court’s business, track record, strategy and prospects.

“I welcome all of our new shareholders and look forward to sharing with them the next exciting stage of our development as we seek to take advantage of the further opportunities we see in our specialist mortgage markets and drive sustainable growth and attractive risk adjusted returns.”