One of AustraliaÆs largest and most successful non-bank mortgage lenders is to list on the local stock exchange via an initial public offering arranged by UBS. RAMS Home Loans released its prospectus yesterday outlining a retail and institutional offer of 353.8 million shares at an offer price of A$2.50 each to raise a total of A$695.3 million $580 million.
The offer opens on July 13, with trading in the shares expected to commence on July 31.
The move comes after nearly a year of speculation about whether RAMS would be sold to private equity interests or floated to the public. The company had been running a dual-track process up until a few weeks...
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