Australia's Pepper Money set for best week in 5 months on Westpac RAMS portfolio buy

Pepper Money

07/11/2025 04:13

** Shares of Pepper Money Limited PPM.AX up 11.2% so far this week, set for best week since early June

** Co extends gains from last week after it confirmed media reports of being part of a consortium buying Westpac's WBC.AX RAMS mortgage broking portfolio

** On November 3, Westpac agreed to sell RAMS portfolio to a consortium, including co, KKR KKR.AX and PIMCO

** Non-banking lender to acquire legal title to the loans and will be appointed as servicer of the portfolio

** Stock down as much as 1.2% to A$2.45 on the day

** YTD, shares surge 88.4%, including day's moves

 (Reporting by Aamir Shaik Khalid in Bengaluru)

 ((aamir.sheikkhalid@thomsonreuters.com))