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Markets to get a pinch of Pepper

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.

Firms: Herbert Smith Freehills (Pepper); Gilbert + Tobin (joint lead managers)

Deal: Pepper's IPO and listing on the Australian Securities Exchange on 31 July.

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.

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