Consumer lender Latitude Financial jumps 15% on Australia debut Reuters 2 hrs ago
April 20 (Reuters) - Consumer lender Latitude Financial Services Australia s shares jumped nearly 15% on its debut on the Australian stock exchange on Tuesday, after raising A$200 million ($155.96 million) through its initial public offering.
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Latitude, which offers digital payments and a range of personal loans and credit cards in Australia and New Zealand, is listing at a time when the buy-now-pay-later (BNPL) space has surged in popularity as the COVID-19 pandemic drove increased online spending.
The company s BNPL product, LatitudePay , will be competing in local markets with similar offerings from sector giant Afterpay, top lender Commonwealth Bank of Australia and U.S.-based PayPal.