Speculation about Latitude float mounting

CEO of Latitude Financial Services Ahmed Fahour. Picture: Andrew Henshaw

The initial public offerings that actually make it to the market are to be closely watched this year, with scepticism that some float prospects will in fact list in the fourth quarter.

But one group under a particular spotlight is Latitude Financial.

Some say that the chances of a 2019 float of Latitude, which is thought to be worth about $5bn, are slim.

But speculation continues to mount that research for a float this year will be released as early as next week, as the non-bank lender, owned by Kohlberg Kravis Roberts, Varde Partners and Deutsche Bank, revives plans for a listing before Christmas.

Latitude comprises the assets of the former Australian GE Capital consumer business and was acquired by the consortium in 2015 for a price valuing its loan book at $8.2bn.

Should the group in fact head to the boards, it will prove to be a major test for the market, and likely to be the largest company to list in 2019.

Pepper Australia will list next year, at this stage, advised by Citi and Reunion Capital, along with possibly Chemist Warehouse, advised by Rothschild, and mines owned by EMR Capital.

Funlab, Retail Zoo, Onsite Rentals are among groups that remain in question as to whether they list this year opposed to next year, while Education Centres Australia, Velocity, Home Consortium and Tyro Payments are all expected to list by Christmas.