Latitude Group Holdings Ltd is an instalments and lending business, providing innovative products and services that support the needs of customers and merchants and other commercial partners, leveraging its technology and database of customer information.
Latitude’s Business‑to‑Business‑to‑Consumer(B2B2C) model focuses on supporting its partners to acquire customers combined with direct customer engagement aimed at increasing product utilisation and graduation to other products.
Latitude offers its customers in Australia and New Zealand instalments (L‑Pay) products and Lending (L‑Money) products. Insurance products were also offered until 2020 and are in the process of being relaunched as of early 2021. Headquartered in Melbourne,Australia, Latitude employs approximately 1,500 full-time equivalent staff as at 31 December 2020.
The offer is to raise up to approximately $150 million through the issue of shares by the Company (expected ASX code: LFS) (Securities), at a fixed price of $2.60 per Security. The offer will be made under a prospectus (Prospectus or Offer Document) which is expected to be lodged with the Australian Securities and Investments Commission (ASIC) on or about 30 March 2021. Additionally, a pathfinder prospectus (Pathfinder Prospectus) is available for sophisticated or professional investors (within the meaning of sections 708(8) and 708(11) of the Corporations Act, respectively) (Sophisticated Investors). For more information see here.
Joint Lead Managers are BofA Securities, Credit Suisse, and Jefferies.