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Report: UK online mortgage marketplace Lendinvest eyes £500M IPO

U.K.-based online property finance hub LendInvest Ltd. is thinking of potentially launching a £500 million initial public offering, which could happen in 2019, Sky News reported March 14, citing sources.

The company has chosen investment bank Lazard to help it weigh its strategic options, while a group of banks could be appointed by the end of March to oversee an IPO.

LendInvest would seek a valuation of at least £500 million, the sources said, which would mean that CEO Christian Faes and co-founder Ian Thomas, who each hold 36% stakes, could end up with paper fortunes of £175 million each.

According to the report, the company is 7.8%-owned by employees, with venture fund Atomico, the merchant bank GP Bullhound and hedge fund Tiger Global among other investors.