Online pension provider PensionBee is giving customers the opportunity to become shareholders if it floats on the London Stock Exchange but says it has not made a decision yet as to whether to go for an IPO.
PensionBee is working with PrimaryBid, the LSE-backed retail investor platform, to give its active customers, who are located and resident in the UK, the ability to register their interest in buying shares in PensionBee ahead of its prospective IPO.
PensionBee will use its open API to connect interested customers’ accounts to PrimaryBid.
The company, founded in 2014, now has 403,000 customers and assets under management of £1.4bn.
PensionBee CEO Romi Savova says: “Customers can too often be an afterthought during an IPO but our customers have always been at the heart of what we do, and we wouldn’t be where we are today without them. Providing our customers with an opportunity to share in our growth journey has always been a key motivation in our reasons for floating. Working with PrimaryBid will make this possible, giving customers adequate notice and opportunity to register their interest, while helping to ensure that the process is as inclusive as possible . The time we take to listen to our customers is what differentiates us as a company, and this will remain true as we progress to the next stage of our growth.”
PrimaryBid CEO Anand Sambasivan: “We’re delighted to be supporting PensionBee by offering its customers easy access to a prospective IPO. Our digital technology was developed to connect companies to their communities during fundraisings, and PensionBee is a leading example of how this can be applied in an innovative way. The decision to give its customers the opportunity to participate in an IPO reflects the unique relationship PensionBee has built with its customers and we look forward to helping facilitate this exciting stage of its growth.”