Mar
07
British Lender Metro Bank Rises 4 Percent in London Debut
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Metro Bank, which opened its first branch in 2010, is one of several so-called challenger banks to the traditional financial powers that dominate lending in Britain. Creditan Kitwood/Getty Images
LONDON — 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…
British Lender Metro Bank Rises 4 Percent in London Debut
