MoneyMe (ASX:MME), a fintech firm that services alternative loans completed its first day of trading on the Australian Stock Exchange in a AU$45 million initial public offering (IPO). The company’s gross loans originations were up 60 percent compared to the same time last year. in its first quarter of 2020 financial results.
As quoted in the press release:
Technology driven consumer credit company, MoneyMe, will commence the trading of its shares on a normal settlement basis on the ASX at 11.00am today following the completion of its successful A$45.0 million Initial Public Offering (IPO).
The strong demand in the Company’s IPO was evident, with applications for MoneyMe’s shares significantly exceeding the target raising of A$45.0 million resulting in substantial scaling back of applications. The IPO was strongly supported by institutions and retail investors. The Company’s successful listing on the ASX represents a significant milestone for the Company and provides a solid platform for future growth.