Pioneer Credit's successful capital raise

Pioneer Credit (ASX:PNC) has successfully raised $10 million through an institutional placement. The capital will be directed towards enhancing investments in Purchase Debt Portfolios (PDP). The oversubscribed placement, priced at $0.58 per share, reflects strong demand from investors.

Pioneer Credit's strategic outlook

Pioneer Credit has announced a $10 million capital raise through an institutional placement, intended to fund increased investments in Purchase Debt Portfolios. The placement was oversubscribed, indicating strong interest from both existing and new institutional investors. The funds will help elevate the company's FY25 PDP investment guidance to at least $90 million, up from $80 million, with an FY26 NPAT guidance of at least $18 million. Pioneer Credit aims to bolster its financial performance and market position by leveraging its established vendor relationships, focusing on sustainable profitability without offering competing credit products. The strategic move underscores the company's confidence in its growth trajectory and commitment to shareholder value.

Leadership insights on strategic growth

We are focused on cash collections and sustainable profitability. Our commitment to delivering shareholder value and achieving financial targets remains strong.