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AMIGO Share Price

AMIGO has faced criticism from regulators and consumer groups over its lending practices and the high-interest rates charged on its guarantor loans. In 2020, the Financial Conduct Authority (FCA) raised concerns about Amigo’s lending practices and ordered the company to pay compensation to thousands of customers who were mis-sold loans.


AMIGO Share Price

Amigo Holdings PLC is listed on the London Stock Exchange (LSE) under the “AMGO.” The company went public in June 2018, and its shares are currently included in the FTSE All-Share and FTSE Small Cap indices. AMIGO’s Share Price as of this post is at 0.24 GBp.

Since its initial public offering, Amigo’s stock price has been volatile, with highs and lows. The company has faced some challenges, including regulatory scrutiny and increased customer complaints. In 2020, the company announced that it would halt new lending, which has affected its revenue and profitability.

Brief Background of AMIGO Share

Amigo Holdings PLC is a UK-based company founded in 2005 by entrepreneur James Benamor. The company provides guarantor loans, a type of unsecured personal loan requiring a third-party guarantor to co-sign the loan agreement. Amigo’s target market is borrowers with poor or no credit history who may struggle to obtain credit from traditional lenders.

In 2018, Amigo Holdings PLC went public and was listed on the London Stock Exchange. The initial public offering (IPO) was oversubscribed, and the company raised £327 million. At the time, the IPO was seen as a significant success for the company, which had increased in the years leading up to its listing.

However, since going public, Amigo Holdings PLC has faced some challenges. The company has come under regulatory scrutiny, and in 2020, it announced that it would halt new lending after receiving many customer complaints. The company has also faced criticism from consumer groups, who argue that its guarantor loans can be expensive and unsuitable for all borrowers.

Despite these challenges, Amigo Holdings PLC remains a significant player in the UK guarantor loans market. The company has over 700,000 customers and has lent over £4 billion since its inception.

Advantages of Investing in AMIGO Shares

  1. Established market position. Amigo Holdings PLC is a significant player in the UK guarantor loans market, with a large customer base and a track record of lending over £4 billion. In addition, the company has a well-established brand and a strong reputation, which could be an advantage in attracting new customers and investors.
  2. Revenue potential. Guarantor loans can be profitable, as they typically carry higher interest rates than traditional personal loans. Therefore, if Amigo Holdings PLC successfully addresses its regulatory challenges and customer complaints, the company could generate significant revenue and profitability in the long run.
  3. Potential for recovery. After a difficult period of regulatory scrutiny and a halt in new lending, Amigo Holdings PLC showed some signs of recovery in 2021, with a return to lending and an increase in its stock price. If the company continues to address its challenges effectively, it could recover and deliver returns for investors.

Main Competitors of AMIGO

Amigo Holdings PLC’s main competitors in the industry include other providers of guarantor loans and alternative finance solutions, such as:

  1. Provident Financial: a UK-based provider of credit products, including doorstep loans, personal loans, and guarantor loans.
  2. Buddy Loans: a UK-based provider of guarantor loans.
  3. TrustTwo: a UK-based provider of guarantor loans.
  4. Bamboo Loans: a UK-based provider of personal loans and guarantor loans.
  5. TFS Loans: a UK-based provider of guarantor loans.
  6. 1st Stop Personal Loans: a UK-based provider of personal loans and guarantor loans.
  7. UK Credit: a UK-based provider of personal loans and guarantor loans.
  8. George Banco: a UK-based provider of guarantor loans.

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Amigo has faced financial difficulties, including a significant drop in its share price and ongoing uncertainty about its future. The company has also faced legal action from customers who allege that they were misled or unfairly treated by the company.

Despite these challenges, Amigo remains a significant player in the guarantor loans market in the UK. However, the company’s prospects may depend on its ability to address the concerns raised by regulators and improve its lending practices.


FAQ: AMIGO Share Price

What is the historic performance of Amigo Holdings PLC stock?

Amigo Holdings PLC was listed on the London Stock Exchange in June 2018, with an initial public offering (IPO) price of 275 pence per share. The stock traded as high as 429.90 pence per share in February 2019 before declining to around 135 pence per share in March 2020 due to the COVID-19 pandemic and concerns about the company's lending practices.

In August 2020, Amigo's shares dropped sharply following the Financial Conduct Authority's (FCA) announcement that it was investigating its lending practices. The share price continued to decline in the following months as the FCA's investigation progressed and the company faced legal challenges from customers.

Does Amigo Holdings PLC pay dividends to its stockholders?

Amigo Holdings PLC had suspended dividend payments to its shareholders. The company announced the suspension of dividends in August 2020, citing the impact of the COVID-19 pandemic on its business and the ongoing uncertainty surrounding the Financial Conduct Authority's investigation into its lending practices.

The suspension of dividends was seen as a prudent move by Amigo to conserve cash and maintain its financial stability during a challenging period.

How much does Amigo Holdings PLC make in a year?

According to the company's annual report, for the fiscal year ended March 31, 2020, Amigo Holdings PLC reported a revenue of £303.1 million (approximately $404 million USD). The company's profit before tax for the year was £58.1 million (approximately $77 million USD).

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Simon Williams
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