Report
EUR 88.49
For Business Accounts Only
Latitudes operations have been steady but slow and the new CEO along with the renewed push for BNPY offers hope. However, the competition for BNPY sector is already intense and Latitude seems to be slightly late to the game. At the same time, regulatory scrutiny of the BNPY sector is picking up and also remains an overhang for Latitude's traditional business with the prospect of changes to the point of sales exemption.
As mentioned earlier, in an ideal world, the company should have pushed through with its BNPY product and shown results, at least for a few quarters, before coming to the market to list. Otherwise, as of now, one would be investing more on the basis of hope and less on the basis of results. At these valuations, that doesn't look rather appealing.
Latitude Financial Group IPO
Latitude Financial Services plans to raise up to US$950m in its upcoming IPO in Australia. The business was purchased by a group of financial investors from GE capital in 2015. The company had tried to list in late 2018 but the deal didn't come through.Latitudes operations have been steady but slow and the new CEO along with the renewed push for BNPY offers hope. However, the competition for BNPY sector is already intense and Latitude seems to be slightly late to the game. At the same time, regulatory scrutiny of the BNPY sector is picking up and also remains an overhang for Latitude's traditional business with the prospect of changes to the point of sales exemption.
As mentioned earlier, in an ideal world, the company should have pushed through with its BNPY product and shown results, at least for a few quarters, before coming to the market to list. Otherwise, as of now, one would be investing more on the basis of hope and less on the basis of results. At these valuations, that doesn't look rather appealing.
Provider
Aequitas Research
Aequitas Research is a leading ECM research firm with a focus on IPOs and placements/follow-on offerings across the Asia Pacific with deal size of over USD100m.
Since 2015, we have covered 400+ IPOs and 450+ placements with a hit rate of 73% and 65%, respectively. We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic analysis.
Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis. We also provide a more quant driven analysis on placement/follow-on offerings.
Markets that we cover include:
Hong Kong,
China ADRs,
India,
Japan,
Australia, and
ASEAN.
Hong Kong,
China ADRs,
India,
Japan,
Australia, and
ASEAN.
Sumeet Singh
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