Mortgage Advice Bureau
Dividends this year £3.96m
Peter Brodnicki is either brave, desperate or very well prepared. Yesterday the co-founder of Mortgage Advice Bureau ignored the wreckage of abandoned flotations around him and pressed the button on his own initial public offering.
The decisions by Miller Homes, the housebuilder, Aldermore and Virgin Money, the retail banks, and BCA Marketplace, the used-car dealer, to pull or delay their floats has not deterred Mr Brodnicki, a former divisional head with L&G.
Nor has the profit warning last week from Foxtons, which operates in a related part of the housing market and sees things cooling markedly — in London, at least.
Investor sentiment is weak. Institutions have been spooked by the faltering global growth outlook and are in