Quick Facts
FONT-SIZE Plus   Neg
Share SHARE
mail  E-MAIL

Nationstar Mortgage Prices IPO At $14/share, Below Estimated Range

3/7/2012 11:03 PM ET

Nationstar Mortgage Holdings, a non-bank residential mortgage loan servicer, announced the pricing of the initial public offering of 16.67 million shares of its common stock at $14.00 per share, below its expected range.

In an amended regulatory filing with the U.S. Securities and Exchange Commission on March 6, the company had estimated pricing between $17.00 and $19.00 per share.

Lewisville, Texas-based company said the shares will begin trading on Thursday, March 8, 2012 on The New York Stock Exchange under the ticker symbol "NSM."

The underwriters have a 30-day option to purchase up to an additional 2.5 million shares of common stock, to cover over-allotments, if any.

BofA Merrill Lynch, Citigroup, Credit Suisse and Wells Fargo Securities are acting as joint bookrunners for the offering, and Allen & Company LLC, Barclays Capital, J.P. Morgan, Keefe, Bruyette & Woods and Sterne Agee are acting as co-managers.

As of December 31, 2011, it has serviced more than 645,000 residential mortgage loans worth $106.6 billion, the company said in its filing.

For the year 2011, the Nationstar swung to a $20.9 million profit and reported Revenue of $378 million.

Click here to receive FREE breaking news email alerts for National Semiconductor and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Starbucks Corp. said Thursday after the markets closed that its second quarter profit rose 9.4% from last year, helped by higher revenue. The company's quarterly earnings per share came in line with analysts' expectations, but its quarterly revenue fell short of analysts' forecast. The world's largest specialty coffee retailer also raised its full year earnings outlook. Software giant Microsoft Corp. said Thursday after the markets closed that its third quarter profit fell 6.6% from last year, when results were boosted by special upgrade offer revenues. However, the company's quarterly earnings per share came in above analysts' expectations as did its quarterly revenue. Apple Inc. said Wednesday after the markets closed that its second quarter profit rose 7% from last year, as sales surged and margins improved amid strong sales of its iPhones. The company's quarterly earnings per share also came in above analysts' expectations as did its quarterly revenue. At the same time, the company gave a slightly downbeat revenue forecast for the current quarter.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.