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Genworth's Aussie unit soars on trading debut in Sydney

  • Shares in Genworth Financial's (GNW) Australian home-loan insurance unit jumped 13% to A$3 ($2.79) on their debut on the Australian Securities Exchange following an IPO that raised A$583M.
  • The U.S. company sold a 34% stake in Genworth Mortgage Insurance Australia at $2.65 a share in what is the biggest listing in Australia so far this year.
  • The IPO may be catching the eyes of private-equity houses Carlyle (CG) and TPG, which are considering whether to sell or float A$5B Australian healthcare company Healthscope.
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