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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 - 10/22
1.74 AUD   +1.75%
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 surges 60% on Australia debut as buy-now-pay-later sector booms

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09/06/2020 | 10:43pm EDT

* Laybuy shares up as much as 63% in first 10 minutes of trade

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

* BNPL firms benefit from online shopping boom due to the COVID-19

Sept 7 (Reuters) - Laybuy soared more than 60% on its Australian debut on Monday at a time when the buy-now-pay-later sector is being propelled by an online shopping boom sparked by the COVID-19, forging one of the hottest investor spaces during the pandemic.

The New Zealand company's debut performance was under the scanner after the sector's 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 the high-priced companies, which are heralded as disruptors of traditional credit.

Shares of Laybuy were up more than 50% at A$2.14 by 0227 GMT, from an initial public offering (IPO) price of A$1.41. This gave the latest BNPL entrant a market value of more than A$370 million ($269.51 million).

The IPO raised A$80 million, which the company plans to use 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.

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 = 1.3729 Australian dollars)

(Reporting by Nikhil Kurian Nainan in Bengaluru; Editing by Saumyadeb Chakrabarty and Sherry Jacob-Phillips)


Stocks mentioned in the article
ChangeLast1st jan.
AFTERPAY LIMITED -0.26% 101.06 End-of-day quote.245.15%
LAYBUY GROUP HOLDINGS LIMITED 1.75% 1.74 End-of-day quote.0.00%
PAYPAL HOLDINGS, INC. -4.09% 204.1 Delayed Quote.96.98%
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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 35,1 M 23,4 M 23,4 M
Net income 2021 -19,0 M -12,6 M -12,6 M
Net cash 2021 17,7 M 11,8 M 11,8 M
P/E ratio 2021 -20,3x
Yield 2021 -
Capitalization 319 M 212 M 212 M
EV / Sales 2021 8,58x
EV / Sales 2022 4,48x
Nbr of Employees -
Free-Float 36,9%
Chart LAYBUY GROUP HOLDINGS LIMITED
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Technical analysis trends LAYBUY GROUP HOLDINGS LIMITED
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TrendsNeutralNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 1
Average target price 2,59 NZD
Last Close Price 1,83 NZD
Spread / Highest target 41,7%
Spread / Average Target 41,7%
Spread / Lowest Target 41,7%
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
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AFTERPAY LIMITED246.04%20 449
FLEETCOR TECHNOLOGIES, INC.-15.60%20 410