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Atom Bank picks advisers for IPO after £700m SPAC merger stalls

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The Durham-based digital bank is lining up banks to advise on a London float after calling off talks with a SPAC set up by Donald Trump's former commerce secretary, Sky News learns.

The digital lender Atom Bank is close to picking bankers to work on a stock market listing after calling off talks about a £700m merger with a vehicle set up by Donald Trump's former commerce secretary.

City sources said on Thursday that banks were expected to be formally appointed in the coming weeks, although a final decision on a flotation will be dependent upon market conditions. The Newcastle-based lender, which has grown more slowly than 'neobank' rivals such as Monzo and Starling Bank, has made no secret of its plans to pursue a public listing.

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