Prospa books open, offer size reduced
Macquarie and UBS’s equities desks have started beating the drum for ASX-aspirant Prospa.
The brokers opened Prospa’s IPO bookbuild on Thursday morning, with news the offer size had been reduced.
Some of the online small business lender’s existing shareholders have cut the size of their selldown.
Prospa is now seeking to raise $141 million to $147 million, according to terms sent to fund managers.
The first $100 million is pegged for the company while $41 million to $47 million represents the shareholder selldown.
It had initially been targeting up to $60 million for the selldown.
The price was retained at $3.04 to $3.83 a share, as was the targeted market capitalisation at $500 million to $600 million.
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