Finance Ireland buys time with a €50m equity injection

  • 📰 IrishTimesBiz
  • ⏱ Reading Time:
  • 24 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 77%

Australia News News

Australia Australia Latest News,Australia Australia Headlines

Finance Ireland buys time with a €50m equity injection via IrishTimesBiz

Finance Ireland, led by Billy Kane, has raised €50 million in fresh equity from UK asset manager M&G and existing shareholder PimcoFinance Ireland, the Billy Kane-led non-bank lender that traces its roots back to 2002, hasn’t had the best of luck with the stock market over the years.

In late 2010, the business crept into the car financing market, with funding from UK merchant bank Close Brothers, laying the groundwork for what would become the largest non-bank lender in the State. His plans were thwarted in March 2020 as Covid-19 swept across the globe, sending financial markets into a tizzy.

But any hopes of a fresh stab at an IPO in the near term would, of course, have been dashed by the slump in global equity markets in recent months.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 6. in AU
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Australia Australia Latest News, Australia Australia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Irish State exits Finance Ireland as lender raises €50mFinance Ireland’s new lending passed €1 billion for the first time last year
Source: IrishTimes - 🏆 3. / 98 Read more »

ISIF exits Finance Ireland as M&G buys large stakeThe Ireland Strategic Investment Fund (ISIF) has sold its entire 33% stake in the country's largest non-bank lender, Finance Ireland, as part of a series of transactions at the firm.
Source: RTEbusiness - 🏆 16. / 61 Read more »