Latitude Financial statement on IPO plans
Latitude Financial announced today the withdrawal of its initial public offering from the market following the conclusion of the bookbuild last night.
Latitude Chairman Mike Tilley said: "Despite extensive engagement with prospective investors the Board and shareholders have determined not to proceed with the offer. The Board and shareholders were conscious of the importance of ensuring a strong after market for the company. Latitude is a strong business and its management team will continue to execute on the growth strategy embodied by Latitude 2.0.”
Latitude Managing Director and CEO Ahmed Fahour said: "While it is disappointing that we are not in a position to progress a public listing at this stage, we will continue to execute on the growth strategy with the support of our shareholder group."
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