Established in 2008, Charter Court operates in the UK residential mortgage market through its three core brands: Precise Mortgages, Charter Savings Bank and Exact Mortgage Experts, which provides Fitch-rated mortgage administration, services, collections and other services.
Charter Court says the IPO and listing will "position the Group for its next stage of development, including further raising its profile, assisting in retaining and incentivising employees and providing it with a platform for future growth".
The IPO will comprise an issue of new shares by the Company and the sale of a portion of the Company’s existing shares held by its major shareholders, Elliott International and Elliott Associates, and certain members of the Group’s management in aggregate to achieve a free float of at least 40%.
The Shares will be offered in the IPO to institutional and other professional investors in the UK and internationally.
Alan Cleary, Managing Director of Precise Mortgages, said:
“We see an exciting future ahead for Charter Court as a specialist lender, purpose-built by the management team from the ground up for growth in our specialist mortgage markets as they continue to professionalise and increase in complexity. We are well positioned to take advantage of this trend.
"Since our formation in 2008, the hard work in building this bank and its scalable growth platform has been achieved and the volume of our business already is outstripping some of our listed competitors. We are now focused on the next phase of our development and I believe our IPO and listing will further enhance Charter Court’s profile and support our future growth."
