Bluestone investors plan exit strategy
Non-conforming lender Bluestone may appoint a financial adviser in the next month to enable the investors to develop an exit strategy, which may be either a listing on the Australian Stock Exchange or a trade sale. Chief executive Alistair Jeffery said the company would map out a strategy by the end of the year. Jeffery said the company's investors did not see immediate need for liquidity for their investments, with a listing or trade sale expected within 12 to 18 months. Jeffery owns 40 per cent of Bluestone, while Barclays Bank, First Rand, Crescent Capital Partners and 26 private investors own the remaining 60 per cent.