Judo Bank rises on debut

Judo Bank has risen on debut after completing its $657 million initial public offering, one of the largest floats this year.

The company, trading as Judo Capital Holdings, listed at $2.10 a share but within the opening minutes of trade was up 3.3 per cent to $2.17.

The company’s began trading with a market capitalisation of $2.3 billion, meaning it could be eligible for inclusion in the benchmark S&P/ASX 200 Index in six months time if it maintains that valuation.

“Since day one, Judo Bank’s purpose has been clear, to be Australia’s most trusted SME business bank by bringing back the craft of SME relationship banking. Banking as it used to be, banking as it should be,” said Judo Bank chief executive and co-founder Joseph Healy.

“Australian SMEs have been unable to secure the lending they need and the service they deserve to support and grow their businesses. They have been forced into a model that required them to contact their bank via a call centre; use their homes as collateral for business loans; and contend with a “computer says no” approach to lending.

“Judo Bank’s IPO will mean more SMEs will have access to a relationship bank that listens, understands and boldly backs their business.”

Be the first to comment

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.