July 30, 2019 / 2:11 AM / 4 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)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below