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Aldermore finds buyers for listing, valued at up to $1 billion

Reuters - UK Focus

LONDON, March 3 (Reuters) - British banking newcomer Aldermore will have a valuation of between 600 million pounds and 660 million pounds ($922 million-$1 billion) following its London stock market listing, sources said.

The sources said Aldermore, which plans to raise 75 million pounds from the initial public offering, had managed to cover the books for the sale early on the first day of its bookbuild on Tuesday.

The shares will be priced between 175 pence and 195 pence per share, the sources said.

($1 = 0.6507 pounds) (Reporting by Matt Scuffham and Freya Berry; Editing by Steve Slater)