Business
Latitude Finance IPO: Could this be third time lucky? – The Australian Financial Review
The sale of a 10 per cent stake to Shinsei Bank and a strategic restructuring means Latitude Financial – after two failed attempts – could list on the ASX this…
Under ASX rules, a company with a free float of more than 20 per cent can list without the need to sell stock to new investors.
Latitude had an 18 per cent free float before the Shinsei deal thanks to institutional investors switching their stock from a private equity fund to direct ownership.
Chanticleer is not suggesting Latitude would list without KKR, Varde and Deutsche selling more stock.
In fact, it makes sense to do so because it is only when a stock has a 30 per cent free float that it can…
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