Springleaf shares rises after $336.7M IPO
NEW YORK (AP) — Shares of Springleaf Holdings jumped Wednesday morning after the lender expanded its initial public offering, selling $336.7 million in stock.
Springleaf expanded its IPO to 21 million shares from 20 million and said the offering priced at $16 per share, in line with its estimates.
The company’s shares gained $1.70, or 10 percent, to $17.70 in morning trading.
The stock is now trading on the New York Stock Exchange under the ticker symbol “LEAF.” Springfield said the underwriters of the IPO will have an option to buy 3.2 million more shares to cover over-allotments.
Springleaf Holdings Inc. provides non-prime consumer loans through a network of 834 offices and online. It is based in Evansville, Ind.