Brokerage to go public on ASX today

by Julia Corderoy18 Mar 2016
Award-winning brokerage N1 Loans is scheduled to list on the ASX at 11am today.

N1 Loans is set to list on the ASX this morning after having closed their IPO for $5 million. Speaking to Australian Broker, N1 Loans CEO, Ren Wong says by going public, he hopes to bring greater awareness to the value of the mortgage broking industry. 

“We are going to take the momentum and quickly grow our market share, once listed we have the responsibility to bring value not just to clients as a business but also to shareholders as a publicly listed entity,” Wong said.

“We also want to be able to generate more awareness of the mortgage broking industry to the general public, at times of brokers increasing their market share in new loans origination.”

As a business, Wong says he plans to use the capital boost to execute a major diversification strategy, which includes acquisition.  

“We are planning to execute our diversification strategy in terms of products, geographical and niche language market via n1 loans and our mortgage comparison website,” Wong told Australian Broker.

“We are also actively looking for potential acquisition opportunities especially in the financial services sector such as business lending or financial planning and in the fintech space. This forms part of our diversification strategy, in which we extend our organic and acquisition growth.

“In the long term we want to position ourselves as a tech-based comprehensive financial services provider.”