Mike Cagney’s financial technology firm Figure Technologies has taken another step to go public with its lending division, LendCo, hiring investment banks to coordinate the initial public offering (IPO), per a Bloomberg report.
People familiar with the transaction told Bloomberg that Figure is working with Goldman Sachs Group Inc., JP Morgan Chase & Co. and Jefferies Financial Group Inc. for the IPO. Figure and the banks declined to comment.
The company’s lending arm, valued between $2 billion and $3 billion, is expected to go public in the first half of 2024. However, the report states there’s no final decision on the timing and valuation. Figure details ⇒
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