It is no secret this is to list on the ASX soon, key details from what I can gather:
- An Australian consumer finance company (GEM Visa etc - essentially GE Finance reincarnated)
- Expected to seek to raise about $2 billion for its IPO, in a deal valuing the company's equity at about $4 billion.
- Exact pricing and structure is expected in front of investors next month [August], when the company lodges a prospectus with the corporate regulator.
- $410 million of net cash
- $6.59 billion wholesale funding.
- Targeting a 65 per cent to 75 per cent dividend payout ratio,
- Valuation implied a 5.2 per cent to 7.8 per cent yield, dividends commence beyond the first half of FY19.
- "It expects to grow its balances by 8% CAGR and its cash NPAT by 17% CAGR between FY16 and LTM to June 19."
- Likely to report $1.05 billion operating income in the year to June 2019 and a $266.3 million cash net profit. Those numbers would be up from $1.01 billion and $244.1 million in the 2018 financial year.
- Goldman Sachs said Latitude's key strengths were: strong cash conversion and dividend capacity, digitally enabled business driving scalability, proven credit performance and risk management, multi-channel distribution network with low customer acquisition costs, focused growth strategy and a diversified and broad funding base.

I would argue this is similar to flexigroup, but they wouldn't, as FXL is currently valued far far cheaper!