Terry reveals financial progress of firm which is on course for a listing in North America by 2022
Ex-Quindell boss Rob Terry has revealed the financial progress of his revamped firm as it aims for a $1bn listing by 2022.
Quob Park Estate, which invests in digitally disruptive firms, reportedly delivered an adjusted profit before tax of £2.9m in 2016.
Terry believes one of the firm’s brands, Quob Park Solutions Division, is heading for a major listing.
Terry said: ”An initial public offering from Quob Park Estate’s Quob Park Solutions Division, in North America, is targeted before 2022 provided at least $1bn (c.£800m) valuation can be met in that timescale – implying a price per share of $100 (c.£80) based upon the current fully diluted number of shares.”
Quob Park Estate targets investment in ’insurance, health, telecoms, utilities and technology market to deliver disruptive business solutions.’
Terry blamed short-sellers for reducing the share price of Quindell to a fraction of its once high £3bn valuations on the alternative investment market. He dismissed the idea of any insider share dealing at Quindell as a ‘heap of rubbish’.
The Serious Fraud Office is currently investigating the activity that went on at Quindell, prior to its Watchstone rebrand.