The book building was scheduled for Wednesday, sources said, and the float would be drawn shortly after. Without disaster, it would be built in early November.
The corner bids were a strong show of support for the Australian bank, founded in 2016 and lending to small to medium-sized businesses.
The company had a loan book of $ 3.5 billion per year. June 30, according to marketing materials ahead of potential investors and expects to report a profit of $ 5.2 million in fiscal year 2022.
This is another strong signal for Australia’s stock market at a time when there are seven l $ 1 plus lists in line for a float.
The first of the major IPOs, global equity investor GQG Partners, secured its $ 1.2 billion and $ 6 billion IPO last week. Judo Bank is the other, while others include SG Lottery, Vulcan Steel, SiteMinder, Ventia and ComfortDelGro Australia. They are all scheduled to invest in the coming month.
Judo Bank’s float is a landmark opportunity for the group’s founders, including former NAB bankers Joseph Healy (still CEO) and David Hornery, who have argued that their customer-centric and differentiated approach would resonate with both customers and investors.
Along the way, the group raised more than $ 1 billion and recruited external investors, including Bain Capital Credit, Myer Family Investments, Abu Dhabi Capital Group and Ironbridge. It has also been able to attract deposits, mostly by going directly to retailers / Australians with a high net worth.
Goldman Sachs, Citi, Barrenjoey and Credit Suisse are the guarantors and executives of Judo Bank.