The biggest IPO in 2018 is about to hit town. Later this week, fund managers will sit down with investment bank Deutsche to get a briefing on Latitude Financial Services. They are being sounded out as potential “cornerstone investors” in a $5 billion IPO, the largest on the ASX since Medibank Private.
Latitude is probably best known for its recent TV advertisements featuring Hollywood star Alec Baldwin, who in 2016 shot to worldwide attention and acclaim for his portrayal of Donald Trump on Saturday Night Live. In Australia, Baldwin is currently the face of a campaign by Latitude to “better your bank by 1%” – an offer for personal loan customers to switch from the major banks to Latitude and save 1% on their rate.