Here’s another shot in the arm for the IPO market.
As the big contenders line up, Judo Bank has all-but secured a $650 million initial public offering and a deal valuing it at $2.3 billion.
Judo Bank’s understood to have nabbed the first $520 million from a bunch of cornerstone investors, and will seek to raise the rest in the first half of this week.
Barring disaster, it should have an underwritten and guaranteed deal in three or four days.
It’s a landmark occasion for Judo Bank, which was founded in 2016 to write loans to Australian small and medium-sized businesses, and encouraging for the other chunky contenders in the IPO pipeline, including SG Lottery, Ventia and SiteMinder.
Business lender Judo Bank can get ready for life on the ASX boards after securing ample investor interest for its $650 million initial public offering and $2.3 billion listing.
IFM Investors’ big portfolio of Australian airport investments is set to be scrutinised as part of the competition regulator’s review of a $32.6 billion bid for Sydney Airport.
