Liberty Financial plans stock market float
Aussie non-bank lender Liberty Financial is lining up an A$1.8 billion ASX listing, joining a raft of other alternative lenders on the public market.
Tuesday, November 17th 2020, 8:55AM
Liberty, the owner of Mike Pero Mortgages, has enlisted financial advisers to explore a stock market float which would list about 20% of the company on the Australian stock exchange.
The group would join smaller rivals Resimac and Prospa on the public market. Liberty's owners include executive director Sherman Ma and his financial backers.
Like its non-bank rivals, Liberty remains profitable in the wake of Covid, as more customers seek alternative forms of financing.
According to its last set of results, the company made an A$134.7 million profit in the year to June, up from $89 million the year before.
Liberty is run in New Zealand by Mark Collins, the chief executive of adviser group Mike Pero Mortgages.
The stock market float is expected to provide more firepower for Liberty to grow its non-bank lending and support its subsidiaries.
Liberty has hired investment bankers at Credit Suisse to work on the IPO, according to the Australian Financial Review.
| « How low will one and two-year rates go? | NZFSG-Kepa finalise merger » |
Special Offers
Comments from our readers
No comments yet
Sign In to add your comment
|
|
Printable version |
|
Email to a friend |
