UK pension provider PensionBee has debuted on the London Stock Exchange (LSE) with its shares priced at 165p per share.
The company is listed under the £PBEE ticker and will be subject to conditional trading for the remainder of its first week. Following the LSE entry, PensionBee holds a valuation of £365m.
PensionBee will begin unconditional trading on Monday 26 April. On this day, the company will also be provided entry to the High Growth segment of the LSE main market.
Founded in 2014, PensionBee is an online pension provider where users can manage their pension by checking their real-time balance, see their projected retirement income, and set up contributions and withdrawals.
PensionBee CEO Romi Savova said, “We are delighted with the strong support that we have received from institutional investors and our customers, who understand the importance of our vision, to simplify pensions so that everyone can look forward to a happy retirement.
“Being a publicly traded company will enable us to further develop our customer-focused proposition and to extend our reach to millions of consumers across the UK, whilst continuing to use our voice to make positive changes in the pensions industry.”
Back in 2017, PensionBee – then just a start-up – collaborated with banking app Revolut to enable the latter firm to offer pensions to its customers.
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