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Allco set to offload Mobius

Staff Reporter 1 minute read

Allco Finance Group (Allco) has faced a tumultuous few days since reporting its half year results on Monday.

After a 64 per cent fall on Monday, its share price yesterday dropped a further 15.3 per cent.

The half yearly update revealed plans that the group intends to offload both its financial and infrastructure businesses.

The financial assets of Allco include troubled white label lender Mobius, which reported a loss before tax of $3.1 million. 

The future for the lender appears uncertain with Allco conceding that an information memorandum has been issued calling for expressions of interest in the lender. 

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While Allco is confident a sale will be completed within the year, what value Mobius will fetch is uncertain.

Published: 27-02-08

Allco set to offload Mobius
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