Business
Liberty Financial (ASX:LFG) share price jumps 12% on IPO debut
The Liberty Financial Group (ASX: LFG) share price has jumped up 12% after its shares made their official debut on the ASX today.
The non-bank lender has floated its shares through an initial public offer (IPO) pricing at $6 a share. At the time of writing, the Liberty Financial share price is trading up at $6.71.
More about the Liberty IPO
The company has secured $320.7 million at $6 a share through the IPO, valuing it at a market cap of $1.82 billion.
According to the prospectus pitched to investors during the book build, the group had $11.5 billion loan portfolio as at 30 June, and expects it to increase to $11.9 billion by June next year.
Liberty also forecast $838.2 million in revenue, and $153.9 million net profit in the…
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