Bank of Bahrain and Kuwait in Talks for 20% Stake in Panmure Liberum at £70M Valuation

The Bank of Bahrain and Kuwait is in talks to acquire a 20% stake in City stockbroker Panmure Liberum, valuing the UK investment bank at approximately £70 million, Sky News reported on Oct. 5, 2026. The deal would mark the latest ownership change for Panmure Liberum, formed in 2024 through the merger of Panmure Gordon and Liberum. Atlas Merchant Capital, the private equity firm founded by former Barclays CEO Bob Diamond, holds a 40% stake, with the remainder owned by employees. Atlas acquired Panmure Gordon for £15.5 million in 2017. Panmure Liberum partnered with BBK in November 2025 to provide investment banking services to the Gulf lender's clients. Analysts suggest deepening ties could channel Gulf companies toward London equity markets, which have contracted sharply. Main market listings fell from nearly 1,700 in 2006 to 909 as of July 2026, with IPO proceeds dropping from £22 billion in 2006 to £1.6 billion last year. Panmure Liberum reported a £2.2 million loss for 2025, improving from an £11.4 million loss the prior year.