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Australia's Latitude Financial sets IPO price at A$2 per share

Latitude Financial Services Ltd. priced its IPO at A$2 per share prior to completing a bookbuild on Oct. 16, The Australian Financial Review reported.

At A$2 per share, the nonbank lender is seeking to raise A$1.24 billion in the offering. Latitude Financial informed fund managers about the pricing decision on Oct. 11. It is majority owned by KKR & Co., Deutsche Bank AG and Värde Partners Inc.

In its prospectus filed September, Latitude said it will offer approximately 622.4 million shares at a price range of A$2.00 to A$2.25 each.