The Portuguese peer-to-peer firm has seen its share price jump 20 per cent after a day of trading.
Yesterday, Portuguese peer-to-peer firm Raize completed the first IPO in Portugal since 2014. Now listed on the Lisbon Stock Exchange, Raize successfully placed 750,000 shares at the price of €2.00 per share, raising €1.5m.
Over 1,400 retail and institutional investors invested in the IPO, with some pension funds getting in on the act. Raize is already backed by large institutional investors in Portugal, including the Champalimaud family.
15 per cent of the company’s shares were floated, giving the peer-to-peer lender a market cap of €10m. However, the shares have enjoyed a strong first day of trading, and are currently priced at €2.4, equating to a market cap of €12m.
Raize claims (in a statement) that its shares are currently one of the most traded stocks on the Euronext Access Market, which owns the Lisbon Stock Exchange.
The company, which specialises in business loans, plans to sell another 10 per cent of its stock (500,000 shares), at pre-set prices between €2.2 and €4, during the next six months.
José Rego (pictured), co-founder and co-CEO, said in a statement: “Taking the company public and broadening the investor base will boost our reputation and presence in the market, with a very positive impact on growth.”
This morning, AltFi reported that Creditshelf, another European business lending platform, had successfully raised €16.5m through a landmark IPO. Its shares are set to start trading on the Frankfurt Stock Exchange next week. Meanwhile, P2P lending giant Funding Circle is set to raise £1.5bn through a London listing later this year.
AltFi is returning to Amsterdam for its second annual Summit in the city. The inaugural event last year was a roaring success, with key figures from across Continental Europe's alternative finance and digital banking sectors highlighted. These included Jeroen Broekema, managing director of Funding Circle Netherlands, and Mieke van Engelen, head of innovative partnerships at ABN AMRO's standalone lending platform, New10.