Liberty Financial plans stock market float
Liberty, the owner of Mike Pero Mortgages, has enlisted financial advisers to explore a stock market float which would list about 20% of the company on the Australian stock exchange.
The group would join smaller rivals Resimac and Prospa on the public market. Liberty's owners include executive director Sherman Ma and his financial backers.
Like its non-bank rivals, Liberty remains profitable in the wake of Covid, as more customers seek alternative forms of financing.
According to its last set of results, the company made an A$134.7 million profit in the year to June, up from $89 million the year before.
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