Time key as floats tread water

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

But one group that particularly remains under the spotlight is Latitude Financial.

Some say the chances of a float in 2019 of Latitude, which is thought to be worth about $5 billion, 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.

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 head to the boards, it will prove a major test for the market — it’s likely to be the largest company to list this year.

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