Australian Debt Collector to Spinoff Online Database

By Anthony Marx, Courier Mail

An online credit reporting and business information company will be floated within 18 months, a debt collection agency announced yesterday.

Brisbane-based Collection House revealed plans for a public listing of its subsidiary Australian Business Research at its annual general meeting.

Collection House chief executive Colin Day said ABR generated about $20 million to $22 million a year in turnover but few other details about the planned initial public offering were unveiled.

Managing director John Pearce said no decision had been made about how much the float might raise or how much of Collection House’s 100 per cent stake in ABR would be sold down. It would be the first Collection subsidiary to be floated, Mr Pearce said.

Launched in Brisbane in 1989, ABR offers subscribers access to a variety of government records, including those related to bankruptcy, property sales and company directors and shareholders.

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