This Saturday, 14 November, we were delighted to share our exciting news that PensionBee is seeking a listing on the London Stock Exchange.
A listing is the natural next step in our development, and we are very excited by the potential that comes with being a public company. It will allow us to vigorously keep pursuing our vision: to live in a world where everyone can look forward to a happy retirement.
As with any significant event in the company’s development, we aim to keep our customers close on the journey.
Why are we exploring a listing of PensionBee?
PensionBee has always envisaged making the transition from being a private company to a public one. A listing on the London Stock Exchange will increase the profile of PensionBee and enable us to access capital, which we will invest in continuing to grow the business. Through the public listing process itself, we will reach even more people with our transformative personal pension.
As a company that maintains the highest standards of governance, including a Board that consists of predominantly independent directors, we already meet many of the stringent requirements placed on public companies. PensionBee recently announced the appointment of Mary Francis CBE as our Senior Independent Director. Mary’s impressive background includes non-executive roles at the Bank of England and Barclays among many other publicly listed companies. Our Chairman, Mark Wood CBE, has been with the business for many years.
PensionBee’s growth to date has been stellar. With over £1.2 billion in assets under administration on behalf of over 65,000 invested customers as well as the pipeline of new pension assets we expect from our 115,000 active customers, we know we are on track to helping millions of people achieve the retirement they want.
How and when will PensionBee list?
PensionBee is exploring a listing on the High Growth Segment of the London Stock Exchange’s Main Market. The High Growth Segment is exclusively designed for rapidly growing companies. The only British company to have listed there is Just Eat, and we hope that we spark a strong trend of exciting companies deciding to take advantage of the High Growth Segment. We’ve been really encouraged and welcome the support we have received from the London Stock Exchange so far. While we considered alternative venues, PensionBee is ultimately a British company and we will be proud to be a London listed company.
We are currently in the preparatory phases of planning and once this phase is finalised, it is likely that the listing is completed in the next 12-18 months, market conditions permitting.
What does a listing mean for our customers?
It’s “business as usual” at PensionBee and we continue to work hard at developing and delivering the UK’s most loved pension product. To that end, we have a robust plan of new feature launches, including most recently our fossil fuel free plan, created specifically following requests from our customers.
Of course, with such a significant corporate milestone underway and our unmatched commitment to PensionBee savers, we will explore offering our customers an opportunity to participate in the listing itself. We will share more information on this process at the appropriate time, but we want to be clear that a company built for our customers can also be owned by our customers.
Stay safe and wish you all a wonderful week ahead.