Home Credit, the consumer lender backed by Czech billionaire Petr Kellner’s PPF group, is likely to delaying its $1.5 billion Hong Kong initial public offering to next year, Bloomberg reports.
Home Credit was targeting a market capitalization of as much as $11 billion, but some investors it approached thought the company should be valued at even half that, the news agency said, citing unnamed sources.
Kellner, the richest man in the Czech Republic, in February scrapped a plan to sell Home Credit’s Czech and Slovak businesses to rival Moneta Money Bank.
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