Pepper Money’s disappointing ASX debut could sap further energy from the IPO pipeline, as nervous investors wait for the raft of newly listed companies to report full-year results in August before committing to more deals.
Investors sneezed when they got a sniff of Pepper after the non-bank lender made its debut on the ASX on Tuesday. The company raised $500 million –the largest amount in any IPO this year – four weeks ago.
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James Eyers writes on banking, payments and fintech. He is a former legal and investment banking editor at the AFR, has degrees in commerce and law from UNSW, and is co-author of Buy now, pay later: The extraordinary story of Afterpay Connect with James on Twitter. Email James at jeyers@afr.com.au
