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UK guarantor loan provider Amigo Holdings to launch IPO

British guarantor loan provider Amigo Holdings Ltd. will launch an IPO of existing shares on the London Stock Exchange.

The IPO will be structured as a 100% secondary sell-down of existing shares. Following admission of the new shares, the firm will have a free float of at least 25% of its issued ordinary share capital, and a further overallotment option of as much as 10% of the offer size will be made available.

Amigo added that it expects to enter into customary lockup agreements with the selling shareholders and directors.

J.P. Morgan Securities PLC serves as joint global coordinator, joint book runner and sole sponsor on the IPO, while RBC Europe Ltd. serves as joint global coordinator and joint book runner and Macquarie Capital (Europe) Ltd. acts as joint book runner.

Founded in 2005, Amigo Holdings currently provides guarantor loans from £500 to £10,000 over a term of between 12 to 60 months. For the fiscal year ended March 31, its adjusted after-tax profit amounted to £72 million, up from £54 million a year earlier.