- Trading in shares of Pepper Money commences on the ASX today at 12.30pm AEST
- Follows a successful Initial Public Offer (“IPO”) to raise a total of $500.1 million, with shares offered to investors at $2.89 per share
- One of Australia and New Zealand’s leading non-bank lenders
The Board and management of Pepper Money Limited (“Pepper Money” or the “Company”), are pleased to announce the Company will be admitted to the official list of the Australian Securities Exchange (“ASX”) at 12.30pm AEST following the successful initial public offering (“IPO”) for its ordinary shares (“Shares”).
Pepper Money will trade under the ticker code ‘PPM’ initially on a on a conditional and deferred settlement basis from 12.30pm today. Commencement of trading on ASX on a normal settlement basis is expected on Thursday, 27 May 2021.
Under the IPO the Company will issue 173.2 million new Shares at an offer price of $2.89 per Share and the Offer will raise cash proceeds of $500.1 million.
Following completion of the IPO, the Company will have 439.5 million Shares on issue and a market capitalisation of approximately $1.3 billion at the offer price.
Funds raised by the IPO will be used to provide financial flexibility to pursue further growth opportunities and strengthen Pepper Money’s balance sheet by enabling the partial repayment of an existing bridge facility and partial repayment of the existing shareholder loan.
Pepper Money CEO Mario Rehayem said:
“I would like to welcome our new shareholders to the register. We have been delighted with the support and interest we have received throughout this process from a wide range of institutional and retail investors.
“We will continue to focus on growing our business and to deliver on our purpose of helping people to succeed by concentrating on underserved customer segments via our multi-channel distribution channel and cascading credit model.”
Pepper Money has $15 billion in AUM1 from $32.3 billion of originations2, including $10.7 billion1 in outstanding Mortgage loans to customers originated or acquired by Pepper Money, $2.6 billion1 in Asset Finance loans and $1.7 billion1 in loans that Pepper Money services for third-party clients.