Challenger bank Shawbrook is likely to be one of the last UK companies to announce an initial public offering before the general election, according to equity capital market bankers across the City of London.

Shawbrook Bank announced its intention to float on Thursday morning, two days after rival lender Aldermore priced its shares at the top of the range. Bank of America Merrill Lynch and Goldman Sachs are acting as joint bookrunners and joint global coordinators on Shawbrook's initial public offering.