Chicago-based online lender Enova International Inc. was spun off Thursday from pawn show operator Cash America International Inc.
Cash America, based in Fort Worth, Texas, announced in July that it planned to spin off Enova into a separate, publicly traded company. Cash America acquired the business in 2006.
Enova shares started trading Thursday on the New York Stock Exchange under the “ENVA” ticker symbol. The company’s stock closed at $26.95 a share, down $3.56 or 11.67 percent.
Cash America will continue to trade on the NYSE under the “CSH” ticker symbol. Its shares closed at $24.71 a share, up $1.53 or 6.6 percent.