The new majority shareholder of buy now pay later company Payright plans to review its status as an ASX-listed entity, as part of a wide-ranging review of the business. Lender Metrics Credit Partners moved to a 52.5 per cent holding in Payright in January. Metrics, which acquired a 9.5 per cent stake in Payright last year was a sub-underwriter for a capital raising in November.  As a result of limited participation by other shareholders, Metrics’ stake in Payright increased to 52.5 per cent. Since then, Payright has appointed a new chief executive and a new chief financial officer – both on secondment from a Metrics subsidiary MCH Corporate Services. It has a new chair and new directors. The market got the first indication of what lies ahead when Payright released its December half financial report on Friday. During the half, the company closed its business in New Zealand to focus on Australia, cut its workforce by more than one-third and was granted an Australian credit licence, which will allow it to offer licensed products. It has taken steps to improve credit quality and arrears management. Looking ahead, the company plans to diversify its product range and will review “the suitability of the group remaining a listed entity in the present form”. If it delists it will follow another struggling BNPL provider, Laybuy, whose shareholders last week voted in support of a proposal to remove the company from the official list of the Australian Securities Exchange During the half, Payright’s gross receivables grew 31 per cent year-on-year to A$117.9 million. Revenue rose 16 per cent to $9.1 million, while expenses fell 13 per cent to $7 million. The loss for the half was $4.9 million, compared with a loss of $6 million in the previous corresponding period.  Net cash used in operating activities was $20.5 million and cash and cash equivalents were $6.4 million. Payright services 3,997 merchant stores and has 88,900 customers.