LONDON — Aldermore said on Monday that it intended to pursue an initial public offering later this year, becoming the latest “challenger” bank to Britain’s traditional financial powers to seek to list its shares in London.
London-based Aldermore, which operates online and does not have branches, said that it planned to seek a listing of its holding company, to be renamed the Aldermore Group, on the London Stock Exchange.
It will seek to raise gross proceeds of 75 million pounds, or about $122 million, and plans to sell around 25 percent of its capital as part of the offering.
“Now in our sixth year of growth, becoming a public company is the natural next step in Aldermore’s evolution and positions us for the next stage of our development through greater access to the capital markets and enhanced profile for our brand,” Phillip Monks, the Aldermore chief executive, said in a statement.
The offering, which is expected in October, would include the sale of new and existing shares to institutional investors.
Founded in 2009, Aldermore is considered a challenger to the larger, more traditional lenders that dominate the banking landscape in Britain.
OneSavings Bank, another challenger bank that was backed by the private equity firm J.C. Flowers & Company, listed its shares in London in June.
Last week, Virgin Money, the British financial services company partly owned by the billionaire Richard Branson, brought in a new chairman as it contemplates its own I.P.O. sometime in the next year.
Aldermore focuses on lending to homeowners and small and medium-size businesses in areas that it believes have been underserved by larger banks in Britain. It has about 800 employees and around 160,000 customers.
At the end of June, the bank had £3.9 billion in deposits and total loans of £4 billion. For the six months that ended June 30, the bank posted a pretax profit of £18.6 million, up from £5.3 million in the first half of 2013.
The private equity firm AnaCap Financial Partners, which invested in Aldermore in 2009, and members of the company’s senior management and certain other shareholders are expected to sell shares as part of the I.P.O.
Funds controlled by Toscafund Asset Management and Lansdowne Partners are expected to increase their holdings in the company as part of the offering. Toscafund and Lansdowne own about 8.3 percent of the bank’s capital.
Credit Suisse, Deutsche Bank, Nomura and Numis Securities are acting as underwriters on the offering. Lazard is serving as a financial adviser to Aldermore and AnaCap.