Non-bank lender Latitude Financial Group which offers loans, credit cards, insurance, and retail finance to customers across in Australia & New Zealand has lodged a prospectus for an initial public offering (IPO) with the corporate regulator under a broker firm offer and institutional offer. Three key shareholders KKR, Va?rde Partners and Deutsche Bank have committed to retain their 54 per cent of stake after the listing.
- The company is aiming to raise between $1.24 - $1.4 billion
- Shares will be issued at a price range of $2.00- $2.25 (representing an earnings multiple of 12.4 times to 13.9 times)
- The new shareholders would hold 35% of the total equity.
- If IPO goes though, the shares will start trading on 18th October 2019 under the ASX ticker “LFS”
There is no investor left unperturbed with the ongoing trade conflicts between US-China and the devastating bushfire in Australia.
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