Small business lender Prospa's $576 million float has been postponed after it and its bankers decided it "was in the best interest of the company and new investors" to delay the initial public offering.
The decision came after a board meeting on Thursday evening, and followed an earlier call to delay the listing just 15 minutes before trading was due to commence on Wednesday.
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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
Jonathan Shapiro writes about banking and finance, specialising in hedge funds, corporate debt, private equity and investment banking. He is based in Sydney. Connect with Jonathan on Twitter. Email Jonathan at jonathan.shapiro@afr.com
