Business
Plenti punished on debut – The Australian Financial Review
Shares in the non-bank lender opened down sharply when the largest initial public offering of the year launched, as investors showed caution about unsecured personal lending.
Meanwhile, about 1000 retail investors that invest over the platform supplying debt funding for the loans were also sitting on steep paper losses on Wednesday after putting in equity to become shareholders. Bell Potter and Wilsons advised on the deal.
Investment bankers will closely monitor the performance of Plenti in the coming weeks given other fintech personal lenders Harmoney and SocietyOne may also consider initial public offerings depending on market conditions in the coming months.
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