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July 19, 2019 www.intellinews.com I Page 2
Home Credit files for Hong Kong public offering, could raise over $1bn
Home Credit, founded in 1997, is one of the leading providers of consumer finance in Central and Eastern Europe (CEE), the Commonwealth of Independent States (CIS) and Asia. The majority owner is PPF Financial Holdings — the financial group owned by the Czech billionaire Petr Kellner — with 91.12%, the minority shareholder is the investment holding company Emma Omega owned by Jiri Smejc with 8.88%.
PPF Group increased its shareholding recently, when it completed the acquisition of a 2.5% stake in the Home Credit Group from Emma Capital, receiving the last instalment of €130mn in May. The transaction increased the group’s shareholding in Home Credit from 88.62% to the current 91.12%. The transaction valued Home Credit Group at €8.5bn.
Home Credit recorded a consolidated profit of €571mn in 2018 (net profit by €422mn), driven by cash loan portfolio growth and increased yield. As the company stated, in 2018 it sustained its growth in China by expanding operating income by 32%, building on its nationwide scale in China, with the number of in-store locations going up by 7%. The group went on to post consolidated profit of €155mn in 1Q19.
“These results demonstrate that our long-term strategy of building a fully licensed platform across diversified markets is delivering substantial growth. This is particularly evident in our South and South East Asian region where the substantial increase in operating income stems from the successful scaling up of our lending networks, which are un- derpinned by our centralised technology systems,” said Smejc, commenting on the 2018 results.
Russian Market Data Value
1M YTD
Equity Indices
RTSI
1,408
5%
31.7
MOEX
2,823
3%
19.1
MSCI EM
1,049
3%
9.0%
S&P
2,993
4%
20.0%
NASDAQ
8,203
5%
25.0%
DAX
12,373
3%
17.0%
FTSE
7,531
2%
12.0%
Commodities
Price, $
1M YTD
Brent
66.7
7%
23%
WTI
60.4
13%
33%
Urals
74.2
-4%
65%
Gold
1,419
7%
11%
Silver
15.2
4%
-2%
Nickel
12,785
10%
21%
Copper
5,862
1%
-2%
Aluminum
1,811
5%
-3%
FOREX
Value
Russia sectors performance % YTD
1M YTD
EUR/RUB
71.03
-3%
-10%
Russia sectors performance % YTD
Oil & Gas Utilities Financials Consumers Telecoms
M&M RTS MOEX
34 33
31.7
22 24
14
19.1
0 10 20 30 40
26
Source: MOEX, BCS GM
source: MOEX, BCS GM
Sectors: % return YTD