Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

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

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
Amazon.com, Inc. said Thursday that its second quarter loss widened from last year, as operating expenses outpaced revenue growth amid heavy spending on new technology and contents. The company's quarterly loss per share was also wider than what analysts expected, but is quarterly sales came in line with analysts' forecast. The company also forecast an operating loss for the current quarter. After failing to sustain an initial upward move, stocks showed a lack of direction throughout much of the trading day on Thursday. The major averages eventually closed nearly unchanged, turning in a mixed performance for the second straight day. New home sales in the U.S. showed a notable decrease in the month of June, according to a report released by the Commerce Department on Thursday, with the steep drop offsetting the jump seen in the previous month.
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.