The peer-to-peer lender is now expected to fetch a valuation of around £1.5bn.
Ahead of its IPO, Funding Circle has narrowed its price range to 440-460 pence per share, down from 420-530 pence.
The news was first reported by Reuters, which cited a bookrunner on the deal.
Last week, Funding Circle announced that its price range had been set at 420 to 530 pence per share, with its total issued ordinary share capital expected to comprise between 329,708,334 and 345,053,027 shares. This meant the firm would be valued somewhere between approximately £1.4bn and £1.8bn.
At the narrowed price range, Funding Circle will carry a valuation of approximately £1.5bn. It is planning to raise £300m through a primary market listing on the London Stock Exchange. The offer is expected to close tomorrow.
The company has already secured an investment from Danish billionaire Anders Holch Povlsen for 10 per cent of its issued capital.
When it lists in early October, Funding Circle will become the first UK-based peer-to-peer lender to go public. We have seen a spate of mid-sized peer-to-peer lending IPOs in Continental Europe this year, but nothing on the scale of Funding Circle.
A successful float could tee up a string of UK-based fintech IPOs, with fellow lenders Zopa, RateSetter and LendInvest often linked with a listing.
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