ThinkSmart plans a UK IPO
Two years after it sold its Australian and New Zealand operations, consumer finance company ThinkSmart has announced plans to move its home market to the United Kingdom.The company, whose business operations are now in the UK, said it would conduct an initial public offering in the UK, listing its subsidiary ThinkSmart Europe Ltd. The proposed IPO is likely to include the sale of existing ThinkSmart shares, which are listed on the Australian Securities Exchange, in exchange for new shares to be issued by ThinkSmart Europe.ThinkSmart sold its Australian and New Zealand businesses, which at the time were making losses, to FlexiGroup late in 2013.At the time the company said it would concentrate on its operations in the UK, which are based on a long-standing relationship with Dixons, the UK's largest electrical retailer.In 2014 it formed a partnership with another UK retailer, do-it-yourself hardware chain Kingfisher.