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Scottish Pacific Group Limited commences trading on ASX
SCOTTISH Pacific Group (ASX:SCO) is pleased to announce it has been admitted to the Official List of the Australian Securities Exchange (ASX) and that its ordinary shares will commence trading at midday today.
“Today is a major milestone for management and for our 260 staff. It is a celebration of Scottish Pacific’s long history of working with the business community to provide the flexible working capital requirements they need to grow,” Scottish Pacific Group CEO Mr Peter Langham said.
“Our management team has spent many years at Scottish Pacific and will continue to provide strong direction for us, as we strengthen our offering within Australia and New Zealand,” he said.
Scottish Pacific Group is the clear market leader in the SME finance sector, with more than 1600 clients in Australia and New Zealand, handling more than $10 billion of invoices each year and providing debtor and trade finance funding exceeding $800 million.
Based on the listing price, Scottish Pacific Group will have a market cap of over $440m.
The 38 employees who have been with the business for 10 years or more (more than 10% of staff qualified, highlighting Scottish Pacific’s position as an employer of choice) were invited to witness today’s listing.
Operations Support Officer Mrs Anita Roopra, who joined Scottish Pacific more than 25 years ago, was given the honour of ringing the bell on behalf of all staff.
Scottish Pacific Group comprises three main brands: Scottish Pacific Business Finance, www.scottishpacific.com, FactorONE, www.factorone.net.au, and Scottish Pacific Tradeline www.sptradeline.com.
Scottish Pacific Group (ASX:SCO) is the largest specialist provider of working capital solutions for SMEs in Australia and New Zealand. Established in 1988, the business has full service bases in Sydney, Melbourne, Perth, Brisbane, Adelaide, Auckland, London and China. Scottish Pacific was voted by brokers Best Cash Flow Lender 2016, 2015 and 2014 in The Adviser’s annual Non-Bank Lending Awards; and named Best Trade Finance Provider 2015 at the international Trade Finance Global Excellence Awards.
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