RateSetter mulls $300 million IPO; Highbury snags advisory role
The red-hot fintech sector has lobbed another name into the 2020 initial public offering pipeline with digital lending platform RateSetter in the early stages of what could be a $300 million listing.
As first reported by Street Talk, RateSetter sent a request for proposal to a handful of investment banks and brokers in December, inviting them to pitch for joint lead manager roles on an ASX-listing this year.
RateSetter Australia has written $750 million in loans since hanging out its shingle in late 2014 and is a biggish player in the ‘green loans’ space, lending for solar panels and household storage batteries.
Its shareholders include RateSetter UK, which owns a 15 per cent stake; Adrian MacKenzie and Srdjan Dangibic’s buyout firm Five V Capital; and Cameron Brownjohn’s investment vehicle Federation Asset Management.
It is understood boutique Highbury Partnership has been tapped as independent adviser to RateSetter’s board on the proposed initial public offering which could see the company list on the ASX-boards with a $300 million market value.
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