What I don’t like
Opportunistic floating at top of the cycle in a hot property market. They tried to float it pre GFC before it was pulled.
Banks offer better value
CEO and founders selling down around 50% of shares
Not underwritten
What I like
Discount to MOC
Largest player with 24% market share to CBA 17% and MOC 10%
Management are well regarded.
CEO and founder very experienced highly regarded
As it’s a small raising of 100m shares, and sentiment is good I expect it to be snapped up in this market and should offer a stag
Other wholesale mortgage brokers include PLAN Australia and FAST.
