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4-Traders Homepage  >  Equities  >  London Stock Exchange  >  Provident Financial    PFG   GB00B1Z4ST84

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Provident Financial : British debt collector Cabot to launch 1 bln stg IPO next week - source

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10/13/2017 | 02:20pm CEST

Cabot Credit Management, Britain's biggest debt collector, is set to launch a 1 billion pound (1.00 billion pounds)stock market float next week after a delay last month to revamp its board, a person familiar with the matter said.

The firm had hoped to announce its intention to float in September, but postponed it after Peter Crook, the former chief executive of Provident Financial, stepped down from its board.

Cabot had planned to appoint Crook as its chairman in preparation for the London listing, the person said.

Crook's resignation from Provident Financial following an August profit warning also prompted him to leave Cabot, forcing the debt collector to find a replacement.

It is not known who Cabot will appoint in Crook's place.

Goldman Sachs, Morgan Stanley and Jefferies are managing the float of Cabot, which is owned by U.S. debt recovery business Encore Capital Group and JC Flowers.

They are targeting a 1 billion pound market capitalisation for the business.

A spate of companies have unveiled plans for London IPOs since the start of October, including ready meals supplier Bakkavor and power firm ContourGlobal.

(Reporting by Ben Martin; editing by Mark Potter and Jason Neely)

By Ben Martin

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Financials ( GBP)
Sales 2017 1 187 M
EBIT 2017 273 M
Net income 2017 69,5 M
Debt 2017 -
Yield 2017 -
P/E ratio 2017 19,82
P/E ratio 2018 19,77
Capi. / Sales 2017 1,09x
Capi. / Sales 2018 1,11x
Capitalization 1 299 M
Chart PROVIDENT FINANCIAL
Duration : Period :
Provident Financial Technical Analysis Chart | PFG | GB00B1Z4ST84 | 4-Traders
Technical analysis trends PROVIDENT FINANCIAL
Short TermMid-TermLong Term
TrendsBullishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 14
Average target price 9,11  GBP
Spread / Average Target 4,0%
EPS Revisions
Managers
NameTitle
Manjit K. Wolstenholme Executive Chairman & Chief Executive Officer
Andrew Charles Fisher Executive Director & Finance Director
Robert Anderson Independent Non-Executive Director
Stuart William Sinclair Independent Non-Executive Director
Malcolm John Le May Senior Independent Non-Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
PROVIDENT FINANCIAL-69.23%1 716
SYNCHRONY FINANCIAL-13.12%24 639
DISCOVER FINANCIAL SERVICES-9.29%24 076
BAJAJ FINANCE LTD62.64%16 554
INDIABULLS HOUSING FINANCE LTD104.10%8 652
ACOM CO., LTD.-8.81%6 736