Non-bank lender Prospa is out to prove everyone loves a comeback story.
It is understood the company’s bosses Greg Moshal and Beau Bertoli have spent the past few days meeting a select group of fund managers ahead of a fresh run at the ASX-boards.
From what we can tell, Moshal and Bertoli went back to the funds that were supportive of the company’s initial public offering this time last year, before the float was pulled at the last minute.
The funds were told to expect Prospa’s new attempt at listing to launch in coming days.
Macquarie Capital and UBS are again on board to oversee the deal.
The big question is what valuation Prospa seeks to obtain this time around.This time last year it achieved a $467.7 million enterprise value when it raised $146.5 million at 4.6-times forecast 2018 financial year revenue, only for the company to quickly hand the funds back.Prospa has been keen to tell everyone it has since outperformed its prospectus forecasts, releasing its full and half year results even though it never hit the ASX-boards.
Prospa recently told investors – and non investors – that it lent $436 million in the 2018 calendar year, which was a 51 per cent increase on 2017 and 13 per cent ahead of forecast.
