This tells why Pepper is doing so well today. This is bloody...

This tells why Pepper is doing so well today. This is bloody cheap even now I reckon. That's why not many sellers. It has the potential to have a $4 in the front in a fortnight or so I would say. Cheers. Country area internet is not bad I must admit as long as I am near a town. Going into the deep bush later today. Using my laptop at the Cafe.
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Pepper surges on ASX debut
MICHAEL RODDAN 2 HOURS AGO 1
DATAROOM EQUITY CAPITAL MARKETS INDUSTRIES FINANCIAL SERVICES
Australian financial firm Pepper Group has rallied on its sharemarket debut, with the newly-listed stock jumping nearly 20 per cent in the first moments of trade.
The strong float will soothe investor nerves, after an 11th hour repricing of the initial public offering as Greece and China-induced global sharemarket turmoil raised concerns about the market's current appetite for IPOs.
After issuing its stock at $2.60 a share, Pepper Group shares shot up to $3.10 moments after hitting the ASX boards at 11am (AEST), with around 700,000 shares changing hands.
By 11.05am, the stock was up 17.69 per cent at $3.06.
Pepper had cut its initial issue price from $3.32 to get the deal away during a particularly volatile time for global sharemarkets at the height of the recent Greek debt crisis and during July's Chinese market turmoil. The firm still managed to lock in $145m raised from institutions.
The IPO, underwritten by Macquarie and Goldman Sachs, gave the firm a market capitalisation of $470m, at ten times this year's $47m profit forecast.
Pepper, a non-bank lender, which started trading specialist residential mortgages in Australia in 2001, also offers car financing and personal loans.
Pepper is eyeing strong results over the current calendar year, forecasting a 31 per cent lift in income and 34 per cent increase in adjusted profits.
Just before its stock started trading today, Pepper said it had won a contract to service a $5.6 billion loan portfolio recently acquired by Carval Investors and Goldman affiliated entities from Lloyds Banking. Pepper said it expected the four-year contract to bring in revenues of $20m.
The deal was evidence of pipleline available to Pepper in Europe, where there was a trend of banks keen to deleverage their balance sheets, Pepper co-chief executive Mike Culhane said.