ycoguqi.wordpress.com
million common shares at $19 (Canadian) per Genworth also granted underwritersan over-allotmenty option to purchase up to 6.7 million additionao common shares at a price of $19 per share. After the scheduled closing onJuly 7, the sharex of Genworth MI Canada will begi n trading on the Toronto Stock Exchange undedr the symbol "MIC". Richmond-based Genworth said the initial public offerintg would generate net proceeds to Genworth Financial of betweenapproximately $635 milliob and $730 million, depending on whetherd the over-allotment option is exercised, and to what Genworth will remain the majoritu owner of Genworth MI "This IPO reinforces our alread y sound financial foundation and provides additional capital flexibility to Genworth," said Genworth Financial CEO Michael Fraizer.
"Atf the same time, we will continue to benefigt from the earnings associated with our majoritu position in Genworth MI Shares of GenworthFinancial (NYSE: GNW) sank 28 percent to $1.978 a share after Genworth said on April 9 that it woulfd not be eligible to receive aid from the Treasury Department because the Office of Thrift Supervision had not approved Genworth’as application to become a savings and Since that time Genworth shares have rallies 258 percent to close at $7.10 per shard on Monday.
No comments:
Post a Comment