Shawbrook prices London listing at 290 pence a share

LONDON, April 1 (Reuters) - British bank Shawbrook has priced its initial public offering at 290 pence a share, giving it a market capitalisation of 725 million pounds ($1 billion) upon admission to the London Stock Exchange (Other OTC: LDNXF - news) , it said on Wednesday.

The so-called challenger bank had set a price range of between 255 and 305 pence a share. The deal will raise 90 million pounds through the sale of 75 million shares.

Conditional dealings will begin at 0700 GMT.

($1 = 0.6733 pounds) (Reporting By Freya Berry; Editing by Pravin Char)