Non-bank lender, Pepper will begin distributing pre-marketing research to fund managers today, despite the shaky share market of late, the
Australian Financial Review has
reported.
According to the
AFR, it is understood that the non-bank will be valued at about 13 to 14 times net profit, or $611 million to $658 million. Pepper is forecasting net profit growth of 34% to $47 million in calendar year 2015, while revenue is expected to hit $300 million, from $230 million in 2014.
Pepper’s raising will be anchored by a handful of local and offshore institutions, the
AFR reports, however the company's founders are not selling into the float, meaning the raising will be about $200 million.
Mortgage aggregator
AFG had a rocky start in its share market debut in May, amid reservations about banks tightening mortgage lending standards. However, speculation that
Connective could be the next major mortgage aggregator to float on the ASX has been doing its rounds since
AFG announced its IPO.
