July 30, 2019 / 2:11 AM / 10 months ago

Buy-now-pay-later lender Sezzle soars on ASX debut

July 30 (Reuters) - Australia-listed shares of Sezzle Inc , a U.S. buy-now-pay-later lender, debuted at more than twice their IPO price on Tuesday as it looks to cash in on Australian investors’ familiarity with the sector.

The Minneapolis-based company opened at A$2.50 and was trading at A$2.34 per CHESS Depositary Interest by 0202 GMT, compared with an initial public offer price of A$1.22 a share.

Sezzle, which launched in 2017 and is yet to turn a profit, hopes to use the A$43.6 million it raised from the initial public offering to fund growth in North America, according to its prospectus. (Reporting by Nikhil Kurian Nainan in Bengaluru; Editing by Stephen Coates)

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