Initial Public Offering(IPO)






P2P closed its placing and intermediaries offer on Wednesday, ahead of its admission. It had offered 20 million shares at 1,000 pence a share, meaning it will have an initial market capitalisation of GBP200 million.

The company will invest in online and peer-to-peer lending, a small, but fast-growing part of the global financial system. It gathered pace in the wake of the financial crisis as traditional lenders restricted their lending as they turned their attentions to shoring up their balance sheets. It is now regulated in both the US and UK.


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Admission to Trading on the London Stock Exchange

P2P Global Investments PLC is pleased to announce that its ordinary share capital consisting of 20,000,000 ordinary shares are expected to be admitted to the premium listing segment of the Official List of the UK Listing Authority, and to trading on the London Stock Exchange's main market for listed securities, at 8.00am today under the ticker "P2P".

Is there now a better site than the Digitallook one for IPO's?
This one doesn't appear on their list, nor do a few others which are due to float soon.

Not that I've seen Harry - I read about these so thought I'd start a thread.

I hold GLI Finance who are transforming into Peer to Peer lending.

Peer-to-peer investment trust promises to pay 6pc income in an Isa

Crowd Power

From: http://www.telegraph.co.uk/finance/personalfinance/investing/11932850/New-12pc-peer-to-peer-firm-freezes-investors-cash.html

New 12pc peer-to-peer firm freezes investors' cash

Savers could face losses of almost £3 million amid warnings that new peer-to-peer Isas give the asset class an 'aura of respectability'

By Kate Palmer

2:49PM BST 15 Oct 2015

Comments22 Comments

Savers lending via peer-to-peer platforms have had their cash frozen after a big European-based collapsed this week.

Peer-to-peer is a type of investing where savers lend their money directly to borrowers, in return for capital plus interest. The peer-to-peer "platform" takes its cut, but can offer better rates all round.

More than £200 million is lent out using failed firm TrustBuddy, which specialises in personal loans to individuals and business loans, which was operating under "interim" approval from the FCA.

All peer-to-peer lenders must be approved by the City regulator, the Financial Conduct Authority, but lenders' money is not protected under the official compensation scheme if a company goes bust, which guarantees up to £85,000 per institution, falling to £75,000 in January.

British savers in the Sweden-based firm have no recourse to the Financial Services Compensation Scheme (FSCS) if they cannot regain access to the frozen funds.

This week the firm disclosed "questionable practices" by its management, which had been overhauled last month, and which meant it had to freeze remaining capital.

• Budget 2015: how new '10pc' peer-to-peer Isas will work

• First £1,000 of peer-to-peer returns will be tax free

It said: "the company has used lenders' capital without their permission", leaving a £3.5m deficit between the amount owed to lenders and the capital available to repay them.

The platform, which promised 12pc returns, has currently lent out £23m but said £2.9m of this had not been assigned to legitimate borrowers.

TrustBuddy's lending page was blocked to users this weekTrustBuddy's lending page was blocked to users this week

TrustBuddy's difficulties have added to concerns that peer-to-peer is new to the savings market, yet is being recognised by the Government.

There are 100,000 peer-to-peer lenders in Britain, who will soon be able to hold their loans in an Isa. From April, "innovative finance" Isas will be unveiled for peer-to-peer loans alongside riskier, crowdfunding investments, such as equity returns from start-up businesses and films.

TrustBuddy is among the hundreds of peer-to-peer firms that have cropped up in Britain in recent years but new data suggests many of these are failing their "interim" approval stage as they fail to meet minimum requirements.

"Peer-to-peer is fundamentally a great idea, but it would be good for it to evolve a bit more slowly. It hasn't got that history through a crisis period."
John Spiers, Bestinvest founder

Since the regulations were introduced, 114 peer-to-peer firms have applied for full FCA approval while 30 have withdrawn their applications. None have so far been refused, according to a Freedom of Information Request.

John Spiers is the founder of the online investment service, Best Invest. He said it is a "mistake" to give peer-to-peer loans Isa status.

• How safe is peer-to-peer lending?

He told the Financial Times: "Becoming part of an Isa will convey an aura of respectability on something untested through a market cycle.

"Peer-to-peer is fundamentally a great idea, but it would be good for it to evolve a bit more slowly. It hasn't got that history through a crisis period."

Critics warn that peer-to-peer lending, which was first unveiled in Britain in 2005, has not proved it could sustain a prolonged economic downturn. Only one firm, Zopa, existed during the 2008 crisis credit crisis but no savers lost money, it claims.