Powered by MOMENTUM MEDIA
SUBSCRIBE TO OUR NEWSLETTER SIGN UP
Powered by MOMENTUM MEDIA

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

Judo debuts on ASX

joseph healy judo joseph healy judo
Sarah Simpkins 6 minute read

Judo Bank has commenced trading on the ASX, reportedly becoming the first bank to list in 25 years.

The specialist small-business bank has joined the Australian Securities Exchange under the ticker JDO after completing a $657 million initial public offering (IPO), which offered shares at $2.10 each.

Judo Bank chief executive and co-founder Joseph Healy commented the company will continue to grow and expand the reach of its banking services.

“Australian SMEs have been unable to secure the lending they need and the service they deserve to support and grow their businesses,” Mr Healy said.

Advertisement
Advertisement

“They have been forced into a model that required them to contact their bank via a call centre; use their homes as collateral for business loans; and contend with a ‘computer says no’ approach to lending.

“Judo Bank’s IPO will mean more SMEs will have access to a relationship bank that listens, understands and boldly backs their business.”

The listing has occurred two years after Judo was granted its full banking licence in April 2019.

Judo ended Monday (1 November) at $2.24 a share, before hitting $2.35 on Tuesday (2 November) morning.

Other lenders have taken to the ASX this year. Pepper Money listed in May, Latitude Financial commenced trading in April and Liberty Financial Group joined the stock exchange in February.

PROMOTED CONTENT


Plenti and Harmoney on the other hand, commenced trading on the ASX last year.

Meanwhile, property settlements platform PEXA floated in July, after completing a $1.1 billion IPO raise.

[Related: Get Capital relaunches under new name]

Judo debuts on ASX
joseph healy judo
TheAdviser logo

If you have ever considered how you could better service your SME clients but lack the knowledge or confidence to do this beyond referring them on, this is a must-attend event for you. Don't miss SME Broker Bootcamp, a jam-packed, free-to-attend, practical workshop. Register today and secure your place at this interactive, flexible, must-attend event.

joseph healy judo
Sarah Simpkins

Sarah Simpkins

Sarah Simpkins is the news editor across Mortgage Business and The Adviser.

Previously, she reported on banking, financial services and wealth management for InvestorDaily and ifa.

You can contact her on This email address is being protected from spambots. You need JavaScript enabled to view it..

 

more from the adviser
Stephen Jones MP

Breaking News

‘We are not going to change it’: Shadow Minister for Financial Services on broker remuneration

The ‘existing arrangements’ for broker remuneration would rem...

cars ta

Breaking News

Car loans drive record Plenti growth

Record quarterly originations driven by strong broker flows and s...

house construction new ta

Breaking News

Tasmania flags support for home buyers amid builder's collapse

The state government has pledged to develop a support package for...