Prospa IPO

[trader_jackson]

https://www.afr.com/business/banking-and-finance/prospa-ipo-launches-110m-raise-610m-market-cap-20190510-p51lxe

Prospa IPO back on they say...
Will be interesting to see results and forecasts

[stoploss]

https://www.afr.com/business/banking-and-finance/prospa-ipo-launches-110m-raise-610m-market-cap-20190510-p51lxe

Prospa IPO back on they say...
Will be interesting to see results and forecasts

I went to a presentation from them recently . Going very well in Australia and have recently launched in NZ.

[whatsup]

What are the details of the IPO?

[trader_jackson]

Not too sure... but in 2018 they first tried to IPO before famously pulling out in the 11th hour:
"The company lodges an IPO prospectus with the Australian Securities and Investments Commission in May, looking to raise $145.6 million from selling more than 40 million shares at an offer price of $3.64.

In the prospectus, the company highlights it has a current net loan book worth $200 million, having written $500 million in loans since launching in 2012. Prospa says it made $53 million in net revenue in the 2016-17 financial year, running at a loss of $2 million.

It expects to book a $1.6 million profit this financial year, with forecasted net revenue of $101.5 million."

Prospa fronts funds the second time around with added credibility. The company is telling fundies it beat its previous prospectus forecasts in terms of originations, revenue and EBITDA. The question now is whether it can do it again...

https://www.fintechbusiness.com/lending/1313-prospa-announces-half-year-results

Will be interesting to see actual IPO documents! But they say it is a done deal and anyone seeing the IPO documents will be fighting for scraps... big fundies (who backed it last year before getting a blank cheque back) have already given it all the backing it needs for round 2