Payday lender Cash America International Inc is revisiting a plan to spin off of its online lending business as the company looks to focus more on its pawn lending operations.Shares of the company, which also raised its first-quarter earnings forecast, rose 12.3 percent in premarket trading.Cash America said that while a final decision is yet to be made, the separation of Enova International Inc would create a publicly traded company with about $766 million in revenue as of Dec. 31.In the event of a spinoff, Cash America said it would operate the storefront pawn lending businesses, while Enova would run the online lending business with operations in the United States, UK, Australia and Canada.
Cash America International, Inc., provides specialty financial services to individuals through retail services locations and through electronic distribution platforms known as e-commerce activities. Shares of CSH remained unchanged at $38.50. In the past year, the shares have traded as low as $34.80 and as high as $50.04. On average, 326108 shares of CSH exchange hands on a given day and today's volume is recorded at 0.
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