Financial Services

VersaBank to go public

VersaBank launches IPO in U.S., public offering in Canada

LONDON-BASED FINTECH FIRM VersaBank announced Monday that it has started the process for an initial public offering of its shares in the U.S. and a marketed public offering of shares in Canada.

In connection with the U.S. IPO, VersaBank filed to list its common shares on the Nasdaq Global Select Market under the ticker VBNK.

Story Continues Below

 

VersaBank, a Canadian chartered bank and fully digital financial institution, said it expects trading of its common shares to start on Nasdaq after pricing of the offering. VersaBank common shares will continue to trade on the Toronto Stock Exchange under the symbol VB.

A syndicate of underwriters will conduct the offer, led by Raymond James & Associates Inc. as sole bookrunning manager and Keefe, Bruyette & Woods Inc., as co-manager. The price and total size of the offering will be determined when entering into an underwriting agreement for the offering.

According to a released statement, VersaBank says it plans to use net proceeds for general banking purposes.

Story Continues Below

 

A technology-focused digital Canadian Schedule I chartered bank, VersaBank operates using an electronic branchless model, sourcing deposits, consumer loans, commercial loans and leases through an electronic network. The bank provides residential and commercial mortgages that it sources directly and through a network of brokers.

The bank established wholly owned, Washington, DC-based subsidiary, DRT Cyber, to pursue large-market opportunities in cyber security and develop solutions to address the rapidly growing volume of cyber threats challenging financial institutions, multi-national corporations and government entities on a daily basis.

Recent Posts

London Inc. Weekly

London Inc. Weekly: A summary of regional business news from the past week

11 hours ago

Dispatch

Dispatch: A summary of recent business appointments and announcements, plus upcoming events for the week ahead

3 days ago

Price check

Price check: A sampling of high- and low-priced real estate listings around town this week

4 days ago

Commercial Activity: June 18, 2025

A summary of recent commercial real estate activity in London

4 days ago

Home of the Week: 2-189 Homestead Crescent

2-189 Homestead Crescent: $539,999 for a well maintained and move-in ready townhome in Whitehills

4 days ago

The life and death of the summer job

The summer job as we once knew it has become somewhat of an archaic concept. Will it ever come back?

5 days ago