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.
Now in its sixth year, the AltFi London Summit returns on 18th March 2019 to 155 Bishopsgate. Last year proved to be a crucial turning point for the key players building the future of finance. Leading platforms launched oversubscribed IPOs, digital banks proliferated and mainstream financial institutions started their own disruptive propositions. With 2019 certain to be another landmark year, more questions will be asked by regulators with investor interest in disruption also poised for more rapid growth.