Clydesdale Bank listed shares this morning at 180p, valuing the bank at around £1.5bn.
Clydesdale Bank listed shares this morning at 180p, valuing the bank at around £1.5bn.
Clydesdale’s parent, National Australia Bank, had delayed the initial public offering by 24 hours yesterday in order to update its prospectus following a ratings agency request.
The floatation saw NAB sell 25% of Clydesdale, divesting all of its UK assets.
NAB group chief executive Andrew Thorburn said: "We are pleased with the response from institutional investors to the IPO, including from NAB shareholders, despite the recent significant market volatility."
National Australia Bank shares fell 5.7% on the announcement.
