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Report: LendInvest to postpone IPO plan, eyes private fundraising

U.K. online mortgage marketplace LendInvest Ltd. has decided to delay a potential IPO planned for later in 2019 and will instead raise private capital from large institutional investors, Financial News reported, citing a person familiar with the company's plans.

In March, the company hired Goldman Sachs Group and Barclays as joint global coordinators on the potential £500 million float.

LendInvest has not abandoned the stock market listing but is unlikely go public until 2020 at the earliest, the source reportedly said.

The company, which has yet to decide on the amount it aims to raise privately, is looking to use the money to fund its expansion into the mainstream mortgage market, according to the Aug. 26 report.