On behalf of the Board of Directors, I am pleased to offer you the opportunity to become a shareholder in Latitude
Financial Group Limited (‘Latitude’).
Latitude is a leading digital payments, instalments and lending platform, with 2.6 million customer accounts
and more than 1,950 merchant partners across Australia and New Zealand.
Latitude was formerly owned by GE, under which it developed sophisticated risk management capabilities,
an extensive network of merchants and a significant internal bureau of customer data.
These capabilities, combined with significant funding capacity, have enabled Latitude to deliver strong growth
and stable returns, with a forecast Adjusted Return on Equity1
of ~20% for the six months ending 30 June 2020
on an annualised basis.
Our established network of over 1,950 partners (across more than 9,000 outlets) includes leading merchants
such as Harvey Norman, Apple and JB Hi-Fi and provides Latitude with significant scale and distribution for its
payments and instalments products.
We are investing significantly in technology, which remains a source of competitive advantage and will enable
Latitude to further innovate its payments, instalments and lending products.
Latitude’s growth is also supported by its diverse funding profile, which provides significant funding capacity.
As at 30 June 2019, Latitude had undrawn facilities of over A$1.4 billion.
Latitude’s listing on the ASX will improve Latitude’s financial flexibility to execute on its growth strategy and
provide an opportunity for others to invest in Latitude.
Following Completion, the Existing Investors (KKR, Värde Partners and Deutsche Bank) are expected to continue
to hold approximately 54% of the issued Shares.
This Prospectus contains detailed information about the Offer and the financial and operating performance, and
outlook for Latitude. As with all companies, Latitude is subject to a range of company-specific and general risks.
These include the evolving regulatory landscape for financial services companies in Australia and New Zealand,
risks associated with information technology and cybersecurity, adverse changes in, or failed responses to,
consumer preferences or macroeconomic conditions, and access to and cost of its funding. The material risks
associated with investing in Latitude are detailed in Section 5. I encourage you to read this Prospectus carefully
in its entirety before making your investment decision.
On behalf of my fellow Directors, I look forward to welcoming you as a shareholder.
Chairman of the Board