Home Credit Group is set to undergo an initial public offering on the Hong Kong stock exchange after the summer. The Czech-based consumer lender has appointed Citigroup, HSBC Holdings and Morgan Stanley to lead the IPO, Reuters reported on Thursday citing three people with direct knowledge of the matter. The sources said that Home Credit is looking to raise at least USD 1 billion, but cautioned that the final figure could change depending on the valuation.
Home Credit Group’s majority shareholder is PPF group, controlled by Czech billionaire Petr Kellner. The company currently operates in 10 countries and has assets amounting of around EUR 23.6 worldwide. China is its largest country of operation.
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