Lendinvest mulls stock market flotation
Online property financing firm Lendinvest has confirmed it is considering a stock market listing, most likely in London.
Lendinvest, issued the statement following media reports that the company, which was set up in 2008 and has issued around £2bn in home loans, had appointed investment management firm Lazard to advise it on a possible listing.
"Further to recent press speculation, LendInvest Limited, the ultimate holding company of LendInvest Secured Income plc, has confirmed that, together with its major shareholders, it is considering a range of strategic options for the business, including a potential IPO", Lendinvest said in its brief statement, issued through the Regulatory News Service of the London Stock Exchange.
SkyNews cited sources saying on Thursday that the London-based fintech, which is run by chief executive Christian Faes, was likely to choose a syndicate of banks by the end of the month to oversee an initial public offering (IPO).
The news channel added that the flotation could take place this year and that its sources suggested Lendinvest is hoping to achieve a valuation of at least £500m in an IPO.
LendInvest is currently a privately held company and is backed by Atomico, the European venture capital investment fund co-founded by Niklas Zennström, which invested £17 million in the company in March 2016.