Harmoney IPO

[trader_jackson]

"It is understood Harmoney has hired stockbrokers Jarden and Ord Minnett to advise on funding options, which include a private debt or equity raising, or initial public offering and sharemarket float."

https://www.afr.com/street-talk/jarden-ord-minnett-ready-fintech-harmoney-for-ipo-20200901-p55r9t

[zs_cecil]

Does it indicate any size of the capital to be raised?

This was how much they raised last time.

https://www.interest.co.nz/news/102348/online-lender-harmoney-raises-almost-47-mln-aussie-private-equity-fund-and-2-unnamed

[Marilyn Munroe]

I know I'm a cynical old pin up girl but could this be a sign of strain in Heartlands balance sheet?

Boop boop de do
Marilyn

[Lewylewylewy]

Or that part of the business isn't worth investing in... or they have better roi elsewhere

[Beagle]

"It is understood Harmoney has hired stockbrokers Jarden and Ord Minnett to advise on funding options, which include a private debt or equity raising, or initial public offering and sharemarket float."

https://www.afr.com/street-talk/jarden-ord-minnett-ready-fintech-harmoney-for-ipo-20200901-p55r9t

Can't see too many people being interested with the number of dead rats they had to swallow with their recent result and what's the bet the Pied Pier hasn't finished playing his tune and there's a whole hoard more of them ready to jump off the cliff making a real mess of the next set of financials ? Unsecured lending was always going to create huge drama's, was only a matter of time and with Covid's effects on the economy D Day is here.

[winner69]

Can't see too many people being interested with the number of dead rats they had to swallow with their recent result and what's the bet the Pied Pier hasn't finished playing his tune and there's a whole hoard more of them ready to jump off the cliff making a real mess of the next set of financials ? Unsecured lending was always going to create huge drama's, was only a matter of time and with Covid's effects on the economy D Day is here.

But punters love IPOs .....it'll be a good one

[KJMLimited]

It's worth thinking about the implications of this part of the article:

Harmoney's mooted IPO preparations follow rival non-bank lender Plenti's pitch to investors, which saw it secure $55 million for a $280 million-odd valuation. Plenti's IPO was priced at 4.6-times forecast revenue of $49 million for the year to September 30.

A 4.4x revenue multiple and a valuation of $280m might make Harmoney look cheap. The AU market certainly looks receptive to listings in this sector.
It might be a great result for Heartland.

[MarineSalvage]

Not going to be touching with a barge pole

[trader_jackson]

Premium article on this today
https://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=12361528

Looks like it will be ASX only - would be good if we could move this thread to ASX

[Tony Two Gloves]

Premium article on this today
https://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=12361528

Looks like it will be ASX only - would be good if we could move this thread to ASX
The number being touted is $300M on the ASX.....