KKR, partners lower Latitude IPO price

US private equity firm KKR & Co and its partners have decided to lower the IPO price of non-bank lender Latitude Financial by at least 11 per cent, two sources have said.

It is the second attempt at listing Latitude for KKR, Deutsche Bank and Varde Partner after the trio had filed a prospectus with the regulator last month, valuing the finance company at between $2 and $2.25 per share.

Latitude is due to list on the local bourse on Friday and the new price being offered is about $1.78 per share, the sources said, asking not to be identified because they were not allowed to talk to the media.

AAP

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