Mogo Finance Technology confirms IPO raise target of $50 mln
Mogo Finance Technology Inc has confirmed earlier reports that it is seeking gross proceeds of $50 million from an initial public offering on the Toronto Stock Exchange under the symbol "GO." The Vancouver-based company is offering 5 million common shares at $10 per share, with an option to sell a further 750,000 shares at the same price. Founded in 2003, Mogo is an online lending platform that provides consumers with a range of credit solutions. As reported by peHUB Canada in May, its investment history is not fully known, however, the company has disclosed that is currently drawing on credit facilities provided by an affiliate of Fortress Investment Group.
19 June 2015•3 mins read
