Australia-based Latitude Financial Services Ltd. on Oct. 14 repriced its IPO at A$1.78 per share, below the A$2-per-share price set by its owners three days ago, The Australian Financial Review's Street Talk reported, without citing sources.

The repricing came ahead of the bookbuild process on Oct. 15 and Oct. 16. Following the repricing, Latitude Financial is expected to raise A$1.1 billion from the offering, down from A$1.24 billion at A$2 per share. The company's shares are expected to start trading on Oct. 18.