30th Jul 2025 16:17
(Alliance News) - International Personal Finance PLC on Tuesday said it would be minded to accept a takeover bid from a suitor of around GBP500 million, should an offer come.
The provider of credit products and insurance services confirmed it was in "advanced" talks with asset-based financing provider BasePoint Capital.
A price per share of 223.8 pence has been mooted, a sum IPF would recommend to shareholders should an official bid materialise, IPF said in a statement.
Under the proposal shareholders in IPF would receive 220p cash per share and would be entitled to retain the interim dividend of 3.8p, announced by IPF on Wednesday.
The deal would value IPF at about GBP502.7 million.
Shares in IPF jumped 20% to 214.50 pence in London on Wednesday for a market value of just over GBP466 million.
IPF said it was "confident in its strategy and in the company's standalone future", but has "concluded that the possible offer is at a value that the board would be minded to recommend unanimously to IPF shareholders".
Separately, IPF reported a rise in half-year pretax profit, an increase in its dividend but a fall in revenue.
Revenue fell 6.4% on-year to GBP347.8 million in the first six months of 2025, from GBP371.7 million, but pretax profit rose 37% to GBP49.9 million from GBP36.5 million.
Profit growth was driven by "excellent credit quality and good growth momentum across all our divisions."
IPF expressed confidence in delivering an "acceleration of growth in the second half", and expects second half profit to be similar to the second half of last year, after absorbing the impact of stronger growth.
In addition, IPF raised its dividend by 12% to 3.8p per share from 3.4p.
By Jeremy Cutler, Alliance News reporter
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