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Report: Fintech firm Funding Circle to hire Morgan Stanley to lead £1.5B IPO

U.K. peer-to-peer lender Funding Circle Ltd. is reportedly poised to appoint Morgan Stanley to lead its London listing that could value the company at £1.5 billion.

City sources told Sky News that the Wall Street lender has been organizing a series of meetings between the fintech firm's management and institutional investors in the past weeks.

Funding Circle intends to raise hundreds of millions of pounds from selling new shares in the listing, which is expected to take place in the second half. Some existing investors expect the IPO to value the company at well over £1.5 billion, the report noted.