PensionBee has announced plans to give customers the opportunity to become shareholders as part of its broader proposals to float on the London Stock Exchange.

The company is working with PrimaryBid to give its active customers, who are located in and residents of the UK, the ability to register their interest in buying shares in PensionBee, or its future parent company, ahead of its prospective initial public offering (IPO).

It is thought to be the first company to utilise its technology in this way, and will be using Open API to connect interested customers’ accounts with PrimaryBid in an effort to make the process of applying to participate in a customer offer fully digitised.

However, the company emphasised that no decision has been taken as to whether or not to proceed with an IPO.

Furthermore, it clarified that customers who register their interest will not be committed to participating in any future offer, stressing that investment decisions should be based on the prospectus that will be published if PensionBee proceeds with its plans to IPO.

Commenting on the proposals, PensionBee chief executive officer, Romi Savova, stated: “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 chief executive officer, Anand Sambasivan, added: “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.”

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