Minor quibble, but I believe both the shareholding and amount lent is larger than this
"Harmoney has Heartland Bank as a 12.9% shareholder. Heartland also lends money through Harmoney, and as of June 30 had lent $78 million through the P2P lender. A Heartland spokeswoman says this has continued to grow since, and Heartland’s lending through Harmoney represents around one-third of the Harmoney loan book."
Between Heartland, TSB, and other institutional investors, approx. 75% of Harmoney's funding is wholesale.
https://www.interest.co.nz/opinion/9...-fund-managers
Whether this poses a risk to Heartland I couldn't say, but I sold out at about 1.80 as I felt the price was getting a little rich. Is it purely being bumped up by speculation regarding UDC now the planned sale has fallen through?