Australian nonbank lender Latitude Financial Services Ltd. is looking to float its shares for the second time at an estimated valuation of about A$3.7 billion, Reuters reported, citing two undisclosed sources.
The lender, which is backed by U.S. private equity firm KKR & Co., Deutsche Bank AG and alternative asset management firm Värde Partners Inc., is planning to submit regulatory documentation for an IPO with the corporate watchdog on Sept. 26, according to the sources.
Latitude is projected to generate cash earnings of about A$288 million for the 12 months ending June 2020, sources said, citing a Goldman Sachs report distributed to investors. The shares could be priced at about 13x those earnings, they added.
Latitude representatives were not available immediately for comment, according to Reuters.
