Sanjiv Somani, a key figure in JP Morgan’s acquisition of the digital investment platform Nutmeg, is set to oversee Lexham Partners’ stake in Atom Bank.
Lexham Partners, a new investment firm founded by Hambro Perks co-founder Dominic Perks, is negotiating the purchase of a multimillion-pound shareholding in Atom, a digital-only challenger bank.
This acquisition will likely involve a stake valued at around £3.5 million, pricing shares at 40 pence each, and would bring Atom Bank's total valuation to approximately £400 million.
Atom Bank, which initially raised capital at a much higher price in 2015, counts notable investors like Spanish banking group BBVA and Toscafund among its shareholders.
The purchase reflects Lexham's growing interest in fintech and digital banking sectors and allows Atom's early investors a partial exit as the bank grows in a competitive digital banking market.
The transaction follows recent feedback from Atom’s shareholders regarding liquidity, with Atom’s chairman Lee Rochford facilitating the offer to minority shareholders without a recommendation from the board.
Source:
sky new
