ASX Shares Pepper Group (PEP)

As im sure some of you saw, Pepper Group started trading yesterday....might come out a winner as a non bank lender, with all the apra driven lending changes?

good for those who got in on IPO ($2.60, closed at $3.30)

ps yield is crappy tho
Assuming a CY2015 result consistent with the Forecast Financial
Information, the Directors anticipate the first dividend will be determined
in respect of the half year ending 31 December 2015, and will be
3 cents per Share payable in March 2016. It is currently expected that
dividends will be fully franked.
Thereafter, it is the current intention of the Board to increase


What is Pepper’s business?
Pepper is a specialist residential mortgage and consumer lender and loan servicer, operating in targeted market segments and asset classes in Australia and internationally, many of which are underserviced by traditional bank and other prime lenders. Pepper has become a specialist lending and loan servicing group through a combination of organic growth and targeted acquisitions
across Australia, New Zealand, Ireland, the United Kingdom, Spain, South Korea, and Hong Kong and China through its 12% equity interest in PrimeCredit. Pepper offers a broad range of lending products across residential mortgages, auto and equipment finance, point-of-sale finance and
personal loans, underpinned by a comprehensive risk-based pricing methodology. Pepper also provides loan servicing for its own-originated loans as well as for third-party originated loans, including residential mortgages, consumer unsecured and secured loans and CRE-backed loans. As at 31 December 2014, Pepper had $28.6 billion in AUM, including $4.2 billion in outstanding loans to borrowers originated or acquired by Pepper and $24.4 billion in outstanding third-party loans that Pepper services. Pepper had 1,066 full-time employees globally as at 31 December 2014.

 

Wanted in on that IPO but no one would give me any