360 Finance, Legacy Housing: Inch higher in debut amid weak market
14/12/2018 18:04
** Chinese online consumer lender 360 Finance Inc QFIN.O
up ~0.5 pct, while factory-built home manufacturer Legacy
Housing Corp LEGH.O up ~1 pct in their market debut
** The gains in the two stocks come with the iShares MSCI
China ETF MCHI.O down ~1 pct and the PHLX housing index .HGX
down 0.8 pct; S&P 500 .SPX down 1.4 pct
** Legacy Housing shares open at $12.11 in debut vs IPO
price of $12; stock last at $12.11
** Shanghai-based 360 Finance opens at $16.81 vs. IPO price
of $16.50/ADS; stock last at $16.59
** Legacy Housing's range from a "tiny house" of about 390
sq ft to houses as big as 2,667 sq ft; Co says it currently has
largest backlog of orders in its 13-year history
** 360 Finance, founded in 2016, provides digital loans to
small and medium-sized Chinese enterprises and is the finance
partner of 360 Group, formerly known as Qihoo 360 Technology
(Reporting by Savio D'Souza)
((RM:savio.dsouza.thomsonreuters.com@reuters.net))