Ex-Quindell boss Terry hails progress of new disruptor amid $1bn float plans

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 left his former firm Quindell in November 2014, following a controversial director share deal.

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.