UK’s OneSavings Bank valued at $692 million in London IPO-Reuters

(Reuters) – British lender OneSavings Bank has set the offer price for its London initial public offering at 170 pence a share, valuing it at 413 million pounds ($692 million), the business said on Thursday.

The statement confirmed a Reuters report on Wednesday that the lender would price at the bottom of its price range of 170-225 pence a share. The listing will raise gross proceeds of 134 million pounds, OneSavings said, of which the lender will receive 41.5 million pounds.