Debt collector Cabot confirms €1bn flotation

Cabot Credit Management, the UK’s biggest debt collector has confirmed it will list on the London Stock Exchange, targeting a £1bn (€1.1bn) market capitalisation.

The firm, which is owned by US debt recovery business Encore Capital Group and private equity group JC Flowers, said it aimed to raise around £195m in fresh capital adding to a flurry of floats on London’s main stock market since the start of October.

Admission is expected to take place in November, Cabot said, adding that it would have a free float of at least 25%.