Online broker Lendi is believed to be moving forward with plans for an initial public offering by the end of the year.
It is understood the group is pencilling in investor meetings after reporting season as part of its preparations to head to the boards. The company, which counts Macquarie Group as a part owner, has considered a float in the past, and earlier Macquarie Capital and UBS were on the ticket to secure more than $100m.
Another investor is ANZ, which took a stake that put the company’s value at about $400m.
However, demand for online companies is booming as investors look to play the trend of remote shopping and working amid the COVID-19 pandemic.
Lendi describes itself as a home loan specialist. It searches products from over 35 lenders. It launched in 2013 and has helped Australians settle home loans worth more than $7bn in total.
Other groups planning to head to the boards after reporting season are online retailer MyDeal which will hope to ride the wave of popularity of listed rival Kogan and has hopes to secure up to $85m. Working on that transaction is Morgans Financial and RBC Capital Markets.
Wilsons and Bell Potter will bring respirator manufacturer CleanSpace to market and is estimated to be worth $500m.
Construction materials, equipment and services company Maas Group is also floating through Moelis and Morgans.
Others include Brett Blundy-backed candle retailer Dusk, which is listing through Canaccord Genuity, Quadrant Private Equity’s online cosmetics retailer Adore Beauty, which is launching an IPO with help from Morgan Stanley and UBS, and Fantastic Furniture, which has hopes to head to the boards through Macquarie Capital and Credit Suisse.
Sims could reap windfall from land sales
Some in the market believe that Sims needs to put some more thought towards selling more assets.
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