SYDNEY May 20 Shares in home loan insurer
Genworth Mortgage Insurance Australia Ltd rose 9.8
percent on Tuesday in an upbeat first day of trading for the
country's biggest initial public offer of the year so far.
U.S. financial services giant Genworth Financial Inc
raised A$583 million ($545 million) by selling 34 percent of its
Australian business, joining a rush of companies to capitalise
on the country's buoyant equity markets.
Genworth Australia shares opened at A$2.91 compared to an
issue price of A$2.65, giving it a market capitalisation of
around A$1.89 billion.
($1 = 1.0696 Australian Dollars)
(Reporting by Byron Kaye; Editing by Edwina Gibbs)