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Markets to get a pinch of Pepper
Two firms have consulted on the initial public offering of a specialist residential mortgage and consumer lender and loan servicer, Pepper Group Limited.
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Firms: Herbert Smith Freehills (Pepper); Gilbert + Tobin (joint lead managers)
Value: $471 million
Area: IPO
Key players: HSF’s team was led by partners Philippa Stone (pictured) and Mark Currell, who were supported by executive counsel Hemang Shah, senior associate Lucy Hall, and solicitors Hayden Guthrie, Thomas Mawson and Tom Hambrett.
Deal significance:
Pepper offers loans to people who fall outside the credit criteria of the major banks.
The IPO and listing consists of a broker firm offer, institutional offer, employee gift offer, personnel offer and priority offer. Pepper’s market capitalisation is $471 million at the offer price of A$2.60 per share.