London Stock Exchange welcomes Amigo Holdings PLC to the Main Market
London Stock Exchange today welcomes Amigo Holdings Limited PLC to trading on its Main Market.
Amigo was founded in 2005 and has since grown to become the UK’s largest provider of guarantor loans, with an approximately 88% UK market share.
The guarantor loan concept introduces a second individual to the lending relationship, typically a friend, family member or work colleague, with a stronger credit profile than the borrower. This individual acts as guarantor, undertaking to service the commitment if the borrower cannot. Guarantor loans provide borrowers with an opportunity to improve their credit scores to give them better access to mainstream financial products in the future.
Amigo provides a single product – a guarantor loan at a single APR of 49.9%, with no fees, hidden charges or redemption penalties charged by Amigo. The company believes this offers an attractive alternative to higher cost loans, such as payday loans and other forms of non-standard finance.
Amigo is proud to have a 9.4 Trustpilot rating for customer service. It works with around 182,000 borrowers and has 98% brand awareness.
Amigo will be admitted to the premium listing segment of the Official List of the UK listing authority.
Amigo is advised by J.P. Morgan Cazenove and RBC Capital Markets. J.P. Morgan Cazenove is also acting as Sponsor. Financial public relations is being managed by Hawthorn Advisors.
Glen Crawford, Chief Executive Officer of Amigo, commented:
“Today is a significant milestone for all of us at Amigo. We are delighted with the level of support and interest we have received from our new investors. I’d like to thank all of our employees for their hard work and the fantastic service they give our customers every day. We look forward to further growth and success as a listed company and helping even more people who need alternative finance options.”