Cinven, CVC Said to Weigh IPO of Consumer Credit Firm NewDay (1)

Cinven Ltd. and CVC Capital Partners are weighing an initial public offering of consumer credit provider NewDay, according to people familiar with the matter.

The private equity firms are working with advisers including Bank of America Corp. and UBS Group AG on the plans, the people said, asking not to be identified discussing confidential information. NewDay could be valued at more than 2 billion pounds ($2.8 billion) in an IPO and a listing may take place later this year or in early 2022, the people said.

Deliberations are ongoing and the timing and value of any IPO could change ...