Good evening,

Latitude Financial Group and its three big backers have pulled out all the tricks to make sure there’s no more IPO flops.

The group has secured a $2.6 billion sharemarket listing by dramatically dialling down the size of the raising and winding back the valuation.

As Street Talk revealed on Sunday, Latitude will seek to raise $150 million at $2.60 a share for a $2.6 billion market capitalisation.

Its big three investors – KKR, Varde Partners and Deutsche Bank – will take $400 million off the table, including $300 million from Japan’s Shinsei Bank. They will be hoping their big paydays are only a year or two away, as long as Latitude can prove itself on the ASX boards

Elsewhere, beauty entrepreneur and Financial Review Rich Lister Zoe Foster Blake has hired a corporate adviser to help snare a strategic investor as it moves to pounce on strong momentum that has fuelled a 41 per cent jump in revenue.

There’s a 45 per cent stake up for grabs in the business that’s forecast to record sales of $58 million in 2022 – and we have all the details from the sale flyer in front of prospective acquirers.

Finally, former Primary Health Care executive Henry Bateman is after a deep-pocketed new investor to help turbocharge his medical centres play, Cornerstone Health.

Happy reading,

Sarah Thompson, Anthony Macdonald and Tim Boyd
Street Talk Editors