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PLT - Plenti Group

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Plenti is a technology-led consumer lending and investment business which seeks to provide borrowers with efficient, simple and competitive loans, delivered via simple digital experiences. Additionally, Plenti seeks to provide investors with attractive, stable returns via investing in the established asset class of consumer loans.

Plenti has funded approximately $870 million in loans to over 55,000 borrowers since its launch in 2014, providing loan products to creditworthy borrowers in the automotive, renewable energy and personal lending verticals.

Plenti has focused on diversifying its funding sources over time, and now funds the loans it originates from a range of funding platforms. Plenti has attracted approximately 22,000 Registered Investors since its launch in November 2014, including retail, institutional and government investors. It has also established its own Warehouse Facility to fund secured automotive loans.

It is anticipated that PLT will list on the ASX during September 2020.

https://www.plenti.com.au
 
I took some shares in the IPO at $1.66

It’s not the normal type of value position I take, and to honest I can’t really value it as I can other companies, however I like the product from a consumer stand point, and decided to put in $35k and see how we go over the next couple of years.
 
Right here at ASF's home page

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It would seem that VC was allowed to buy shares in their IPO (before they're listed). Either as a valued broker client or as a lender on the Plenti platform.
 
qldfrog said:
I have no clue as to the real value of these and as the timing is not convenient cash wise, not sure if i should get in, plus late September for ipo with huge US clouds in coming months..
I might just put a few k at most
Click to expand...

There are three reasons I have bought in.

1, As I said I like the product.

2, I have been watching how fast it has been growing over the last few years, through the presentations and meet ups the company has done, and I like management.

3, I have seen how well other financial tech/ disrupters such as after pay have done, so I think it’s worth a punt.
 
a bit of background, the usual jocular stuff, from about 3 weeks ago

Ratesetter's fresh lick of paint scores Plenti-ful $275m deal
Sarah Thompson, Anthony Macdonald and Tim Boyd
Aug 16, 2020
It's risk on as far as small cap floats are concerned – just ask non-bank lender Plenti. While most of the market was focused on profit results last week, Plenti was quietly locking in cornerstone backers for a $50 million initial public offering valuing it at about $275 million.It is understood the cornerstone backers mopped up about half of the IPO and included institutional investors like Wilson Asset Management, Regal Funds Management and Washington Soul Patts. The rest of the IPO will be marketed by lead managers Bell Potter and Wilsons and sold at a bookbuild slated for later this week.
Click to expand...
Never heard of Plenti? Neither had the cornerstones until last week. It's the new name for what was RateSetter, the fintech that has lent more than $800 million to Australians via secured and unsecured personal, car, green and legal loans in the past five years or so.
Advised by Highbury Partnership, Daniel Foggo told cornerstone backers that Plenti's business had proven resilient through COVID-19, with its revenue growth up more than 60 per cent a year since 2018 (on a compound annual growth rate basis). And the investors bought his pitch that the technology powering its lending platform and the nature of its loan book meant that growth is set to continue. Co-founders Foggo and Glenn Riddell will retain about a 27.5 per cent stake on listing. The company is chaired by ex-Resimac Group joint CEO and former Macquarie banker Mary Ploughman.
Click to expand...
https://www.afr.com/street-talk/rat...t-scores-plenti-ful-275m-deal-20200816-p55m5q
 
Dona Ferentes said:
a bit of background, the usual jocular stuff, from about 3 weeks ago

Ratesetter's fresh lick of paint ....
Click to expand...
lipstick on a pig?

$1.66 offer price in the IPO .... not an auspicious debut this morning, as they say.

and about 1000 retail investors that invest over the platform – supplying debt funding for the loans – were also sitting on steep paper losses on Wednesday after putting in equity to become shareholders .
1600827454367.png
 
Dona Ferentes said:
lipstick on a pig?

$1.66 offer price in the IPO .... not an auspicious debut this morning, as they say.

and about 1000 retail investors that invest over the platform – supplying debt funding for the loans – were also sitting on steep paper losses on Wednesday after putting in equity to become shareholders .
View attachment 112154
Click to expand...

We are only a few hours into the first day, lets check back in 12 months.
 
What is their offering?
- Basic, personal loans comprise around two-thirds of its originations at present. Latitude and (hoping to IPO) SocietyOne are competitors in personal lending, along with the major banks.
- Growth is expected to come from areas such as car loans (Carsales is a strategic investor) (now 20%) and renewable energy installations in homes (currently 15% of loans). Macquarie is a major and well-established competitor on the vehicle space, while buy now, pay later providers like Humm (Flexigroup) and Brighte are getting into renewable energy.

From the prospectus, PLT expects a 34% growth in loan origination in the next 12 months. It is likely the solar and battery sector is where they will do best (for a start, bad debt numbers would likely be far lower). Tesla is a partner, and will refer business to fund batteries. Plenti is running the South Australian government's $100 million battery scheme and is working with the NSW government to support its planned $3.2 billion investment into panels and batteries for solar. The NSW government will tender for a partner in the coming months, which Plenti is confident of winning.
Of the 300,000 solar power installations each year, only 3 per cent currently involve batteries, Mr Foggo said, but this will increase as the cost of batteries comes down. This will lift the average installation price of the kit from around $6,000 for just panels to around $16,000 for solar plus batteries, “and the propensity for people to take finance will increase,” he says.
Click to expand...

Not that they are the only player for renewables. Last week, Humm and Brighte won a case in the Australian Competition Tribunal which suggested they will not have to conduct the same level of affordability checks on customers that Plenti has to as an interest-charging lender regulated by the credit act. The BNPL providers, which do not fall under the credit act as they don't charge customers interest, said the decision will help them grow faster.

And just today, AGL Energy announced it will start installing discounted solar battery systems in households in NSW, Victoria and Queensland in an expansion of its "virtual power plant" program beyond South Australia as it works towards a 2024 target for storage through distributed resources and demand response. Customers joining the program in the three states will be able to buy batteries at cut-price rates in return for allowing AGL to use the systems at key times to improve security of supply, said AGL's general manager for decentralised energy resources, Dominique Van Den Berg.
. . . . .
On the other side. Plenti has around 22,000 registered retail investors; mums and dads can invest from as little as $10. Current returns for retail investors are around 5 per cent a year for three year commitments and 6.5 per cent for five years. Loans are also funded by eight smaller banks at the mutual end of the market, superannuation fund Future Super, and the government via the Clean Energy Finance Corporation.

- all in all, an interesting space. Pluses and minuses. just priced a bit high at IPO.

(DNH)
 
Dona Ferentes said:
On the other side. Plenti has around 22,000 registered retail investors; mums and dads can invest from as little as $10.
Click to expand...

As I have said I am one of them, and have been happily investing there for the past 3 years.

If anyone wishes to join me they are currently offering a bonus $50 each to both you and I, when you sign up and lend $1000 on the 5 year market if you use the link below.

https://mbsy.co/plenti/49795346
 
Value Collector said:
As I have said I am one of them, and have been happily investing there for the past 3 years.

If anyone wishes to join me they are currently offering a bonus $50 each to both you and I, when you sign up and lend $1000 on the 5 year market if you use the link below.

https://mbsy.co/plenti/49795346
Click to expand...
Oct 2 - Plenti Group PLT

  • RECORD LOAN ORIGINATIONS OF $106.9 MILLION FOR QUARTER, UP 48%
  • TOTAL LOAN PORTFOLIO INCREASED TO ABOUT $434 MILLION AS AT 30 SEPTEMBER '20

With their initial ipo PLT raised $55M (33million shares @ $1.66) and today's sp is heavily discounted at only $1.23 (Car Sales became a substantial holder this past week). Top 20 hold about 71% of shares on issue.

In light of easing of lending criteria (as recently announced by Federal Govt) think this may be worth a punt imo leading into their half yearly report due in November '20.

https://www.marketindex.com.au/asx/plt

DYOR .. Cheers tela
 
Telamelo said:
Oct 2 - Plenti Group PLT

  • RECORD LOAN ORIGINATIONS OF $106.9 MILLION FOR QUARTER, UP 48%
  • TOTAL LOAN PORTFOLIO INCREASED TO ABOUT $434 MILLION AS AT 30 SEPTEMBER '20

With their initial ipo PLT raised $55M (33million shares @ $1.66) and today's sp is heavily discounted at only $1.23 (Car Sales became a substantial holder this past week). Top 20 hold about 71% of shares on issue.

In light of easing of lending criteria (as recently announced by Federal Govt) think this may be worth a punt imo leading into their half yearly report due in November '20.

https://www.marketindex.com.au/asx/plt

DYOR .. Cheers tela
Click to expand...
Be interesting to see if CAR decide to increase their existing 9.53% ownership stake in PLT (noting that last hr panic sell down on Trump's covid-19 scare last Friday that dropped sp to close down @$1.15 - mind you vwap was $1.205).

Perhaps some of those other top 20 holder's will clean up/get involved in acquiring more PLT at these lowish levels? especially after that great announcement from last Friday morning.
 
No surprises seeing some big bids stepping up in PLT :)

P.S. No ramping as just stating facts from market depth dynamics

P.P.S. Congrats to anyone that got some @ $1.15 late Friday arvo
 
From Carsales website

"We think it's an important part of the future of finance, so earlier this year Stratton Finance and carsales took a 20% combined equity stake in Plenti Group PLT.

As one of the most innovative lending platforms in Australia, we're now proud to introduce Plenti as Stratton Finance's peer-to-peer lending partner.

Also reported today:

Used car prices continue to soar as commuters shun public transport, fearing COVID-19 contagion.

According to data analytics firm Datium Insights, used motor vehicle prices rose by 4.4 per cent last week after increasing by 2.1 per cent in the previous week.

“Demand for second hand cars remains firm during the pandemic with Aussies preferring to drive their own cars rather than catch public transport due to health concerns,” CommSec chief economist Craig James said.

“New vehicle sales are expected to lift later this year and through 2021 with further easing of domestic travel restrictions,” Mr James said.

“With foreign travel out of the question for now, consumers will favour purchases such as cars as well as lifting travel to regional holiday spots.”

Above seems to be a win-win scenario for both CAR & PLT shareholders combined imo

DYOR as always
 
You have to wonder, who participates in an IPO and then sells down...?
A dump and slump before a pump and dump perhaps?
Hit a low of 1.10...

Screenshot_20201017-053228.png
 

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