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MarketScreener Homepage  >  Equities  >  Australian Stock Exchange  >  Laybuy Group Holdings Limited    LBY   NZLBYE0001S0

LAYBUY GROUP HOLDINGS LIMITED

(LBY)
  Report
End-of-day quote. End-of-day quote Australian Stock Exchange - 10/23
1.76 AUD   +1.15%
09/06Laybuy surges 60% on Australia debut as buy-now-pay-later sector booms
RE
09/06Laybuy set for Australia listing as "buy now, pay later" sector booms
RE
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Laybuy set for Australia listing as "buy now, pay later" sector booms

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09/06/2020 | 07:00pm EDT

* Laybuy shares to start trading at 12 PM local time (0200 GMT)

* IPO funds to be used for growth in the United Kingdom

* BNPL firms benefiting from an online shopping boom due to COVID-19

Sept 7 (Reuters) - New Zealand's Laybuy is listing in Australia on Monday at a time when the buy-now-pay-later sector is being propelled by an online shopping boom sparked by COVID-19, forging one of the hottest investor spaces during the pandemic.

The explosive growth hit a roadblock last week when PayPal Holdings announced its entry, causing a sector-wide sell-off in Australia and exposed the frailty of these high-priced companies, which are heralded as disruptors of traditional credit.

Laybuy's initial public offering (IPO) raised A$80 million ($58 million), and the company will use some of it to fund growth in the United Kingdom, a market already flush with larger competitors such as Afterpay and Sweden's Klarna.

"I think the reality is in the UK, there are only three players, and Laybuy is one of them," Gary Rohloff, Laybuy's co-founder and managing director, told Reuters.

The company had initially planned to list earlier this year but delayed those plans after the pandemic struck, only revisiting them after the sector's popularity grew rapidly among customers and investors.

Laybuy is selling about 56.8 million shares at A$1.41 per share and will begin trading at 0200 GMT.

Founded four years ago, Laybuy allows shoppers to buy goods and settle their dues over six interest-free weekly instalments, and makes the most of its money by charging merchants a commission.

And unlike some rivals, they conduct credit checks on their largely millennial customers, which Rohloff says can improve their credit scores.

The loss-making company also partners with a number of English Premier League football clubs including Manchester United, Manchester City and Arsenal. Laybuy currently has close to 500,000 active customers as of June.

According to the company's prospectus, it has a unit in the United States, signalling a possible expansion into a country seen as the sector's largest growth market. ($1 = 1.3765 Australian dollars)

(Reporting by Nikhil Kurian Nainan in Bengaluru; Editing by Saumyadeb Chakrabarty)


Stocks mentioned in the article
ChangeLast1st jan.
AFTERPAY LIMITED 1.06% 102.13 End-of-day quote.248.80%
LAYBUY GROUP HOLDINGS LIMITED 1.15% 1.76 End-of-day quote.0.00%
PAYPAL HOLDINGS, INC. -0.44% 203.04 Delayed Quote.87.70%
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All news about LAYBUY GROUP HOLDINGS LIMITED
09/06Laybuy surges 60% on Australia debut as buy-now-pay-later sector booms
RE
09/06Laybuy set for Australia listing as "buy now, pay later" sector booms
RE
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Financials
Sales 2021 35,0 M 23,4 M 23,4 M
Net income 2021 -15,9 M -10,6 M -10,6 M
Net cash 2021 22,3 M 14,9 M 14,9 M
P/E ratio 2021 -25,4x
Yield 2021 -
Capitalization 327 M 218 M 219 M
EV / Sales 2021 8,72x
EV / Sales 2022 4,59x
Nbr of Employees -
Free-Float 36,9%
Chart LAYBUY GROUP HOLDINGS LIMITED
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Laybuy Group Holdings Limited Technical Analysis Chart | MarketScreener
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Technical analysis trends LAYBUY GROUP HOLDINGS LIMITED
Short TermMid-TermLong Term
TrendsNeutralNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 1
Average target price 3,21 NZD
Last Close Price 1,88 NZD
Spread / Highest target 70,8%
Spread / Average Target 70,8%
Spread / Lowest Target 70,8%
EPS Revisions
Managers
NameTitle
Gary Raymond Rohloff Managing Director & Director
Steven Fisher Chairman
James Abbott Chief Operating Officer
Katrina Kirkcaldie Chief Financial Officer
Justin Soong Chief Technology Officer
Sector and Competitors
1st jan.Capitalization (M$)
LAYBUY GROUP HOLDINGS LIMITED0.00%218
SQUARE, INC.182.56%78 403
FISERV, INC.-12.50%67 755
GLOBAL PAYMENTS INC.-3.05%52 963
FLEETCOR TECHNOLOGIES, INC.-9.91%21 786
AFTERPAY LIMITED248.80%20 661