PensionBee has confirmed that it is considering an initial public offering (IPO) and intends to publish its registration document, with plans for a targeted offering to both institutional investors and eligible customers.

Should the company proceed with an IPO, it is expected that the share will be admitted to trading on the High Growth Segment of the Main Market of the London Stock Exchange.

The IPO is also expected to include an offer to institutional investors and an offer to eligible customers of PensionBee, which will be made by way of a direct customer offer by the company to retail investors resident in the UK that are eligible customers.

Over 8,000 eligible customers have registered for the offering through PrimaryBid in order to be able to participate since plans to give customers the opportunity to become shareholders were first announced in February.

Keefe, Bruette & Woods, acting through Stifel Nicolaus Europe Limited, has been engaged as key adviser and sole global co-ordinator, in the event an IPO proceeds.

Commenting on the plans, PensionBee chairman, Mark Wood, said: "Always on the side of its customers, PensionBee has grown by showing how saving for a retirement can be done differently, providing a solution for those seeking to save for and manage their income throughout retirement.

"I am proud of the rapid progress PensionBee has made to date, which is testament to the effectiveness of its simple, customer-centric proposition and proprietary, industry-leading technology.

"This is a key milestone for PensionBee. Transparency and strong corporate governance are key aspects of an IPO and are core to our strategy of becoming the best universal online pension provider.

"I see significant market opportunities ahead for PensionBee - with a clear acceleration of the structural shift to online services, PensionBee is well-positioned to execute against its growth ambitions while continuing to fight for the consumer."

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