The 180-day lockup period for Curo Group Holdings Corporation (CURO) ends on June 5, 2018. When this six-month period ends, the company’s pre-IPO shareholders will have the opportunity to sell their nearly 38 million shares of currently-restricted stock. The potential for a sudden increase in the volume of shares traded on the secondary market could negatively impact the stock price of CURO.
(Source: S-1/A)
Currently, CURO trades in the $23 to $24 range. CURO had a first-day return of 1.4%. Shares have climbed steadily since that time and CURO has a return from IPO of 1.4%%.
Business Overview: Consumer Finance Company
Curo Group Holdings is a consumer finance company that focuses on under-banked consumers in the United States, the United Kingdom, and Canada. Its technology-enabled platform offers an omni-channel customer acquisition, servicing, and onboarding experience that is integrated across online, stores, contact center, and mobile touchpoints. The Curo Platform integrates scoring, loan underwriting, regulatory compliance, collections, and reporting activities in a central system. Curo Group relies upon its risk analytics and proprietary algorithms to score loan applications. Since 2010, the company has loaned approximately $14 billion across 36.5 million loans.
Curo Group’s product portfolio includes single-pay loans, open-end loans, secured installment loans, check cashing, credit protection insurance, reloadable, prepaid debit cards, retail installment sales, gold purchasing, and money transfer services.
