PensionBee, an online pension provider, has announced that it intends to give its UK customers the opportunity to become shareholders as part of its plans to float on the London Stock Exchange.
Since founding in 2014, PensionBee has made significant progress against its aim of making pensions simple for everyone, while always ensuring to put its customers first. This early invitation to customers to register their interest underpins PensionBee’s dedication to its customers, and also demonstrates the company’s commitment to its core values of inclusivity, transparency and innovation.
PensionBee’s use of proprietary technology, combined with its dedicated customer service, sets it apart from other pension providers. The company is working with PrimaryBid, the LSE-backed retail investor platform, to give its Active Customers, who are located and resident in the UK, the ability to register their interest in buying shares in PensionBee (or its future parent company) ahead of its prospective IPO. PensionBee will be the first company to use its technology in this way and use its Open API to connect interested customers’ accounts to PrimaryBid, making the process of applying to participate in any customer offer fully digitised and seamless.
Romi Savova, Chief Executive Officer at PensionBee, said “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.”
No decision has been taken by PensionBee whether to proceed or not with an IPO. Active Customers who register their interest via PrimaryBid will not be committed to participating in any future offer If PensionBee proceeds with its plan to IPO, PensionBee (or its future parent company) will publish a prospectus which Active Customers should base their investment decision on. Any application for shares in the prospective IPO would be subject to standard terms and conditions set out in the Prospectus.
Anand Sambasivan, Chief Executive Officer at PrimaryBid, 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.”