FONT-SIZE Plus   Neg

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.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
comScore (SCOR), a global media measurement and analytics company, reported U.S. desktop retail e-commerce spending for the first 27 days of the November-December 2015 holiday season. For the holiday season-to-date, $23.4 billion has been spent online, marking a 5-percent increase versus the corresponding... Cricket Wireless Monday said it is adding to the Cyber Monday excitement by offering new and existing customers 50 percent off Samsung Galaxy S4, S5, and S6 today through December 3 with activation on a smartphone plan. The offer can be combined with the Black Friday offer where customers switching... Global watch maker, Swatch Group will be launching "pay by the wrist" watches early next year in partnership with Visa Inc.
comments powered by Disqus
Follow RTT