October 13, 2019 / 11:40 PM / a month ago

KKR, partners lower Australia's Latitude IPO price - sources

SYDNEY, Oct 14 (Reuters) - U.S. private equity firm KKR & Co and its partners have decided to lower the IPO price of their Australian non-bank lender, Latitude Financial, which is due to list in the local bourse on Friday, by at least 11%, two sources told Reuters.

It is the second attempt at listing Latitude for KKR, Deutsche Bank and Varde Partners. The trio had filed a prospectus with the regulator last month valuing the finance company at between A$2 and A$2.25 per share.

The new price being offered is about A$1.78 per share, the sources said, asking not to be identified because they were not allowed to talk to the media.

Latitude declined to comment. (Reporting by Paulina Duran in Sydney; Editing by Muralikumar Anantharaman)

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