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Report: UK debt collector Cabot poised to launch delayed IPO

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Report: UK debt collector Cabot poised to launch delayed IPO

U.K.-based debt collection firm Cabot Credit Management Group Ltd. will launch its delayed IPO in the week of Oct. 16, Reuters reported Oct. 13, citing "a person familiar with the matter."

Cabot had planned to announce its plans to float on the London Stock Exchange in the week of Sept. 11 but was forced to push back its plans after former Provident Financial Plc CEO Peter Crook resigned from its board. The position has not been filled yet, Reuters noted, its source adding that Cabot had intended to name Crook chairman.

Goldman Sachs, Morgan Stanley and Jefferies are managing the IPO, according to the report. Cabot is owned by Encore Capital Group Inc. and J.C. Flowers & Co. LLC.