Australian consumer-finance company Latitude is planning an IPO that could value it at A$3.7 billion, a more modest pitch than last year. With flatlining wages and a cooling economy, risks are rising for providers of easy credit. AlecMac11
Australian consumer finance company Latitude Financial Services plans to lodge documents for an initial public offering with the country’s corporate watchdog on Sept. 26, Reuters reported on Sept. 20, citing two unnamed sources.
The deal could value the business at around A$3.7 billion , the report said. The company deferred listing plans last year, blaming market conditions and a change in its management. Latitude offers loans, credit cards and insurance, and is owned by Deutsche Bank, private equity firm KKR and alternative asset manager Värde Partners.
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