Mortgage insurer Essent Group Ltd. on Monday filed for an initial public offering, backed by investors including Goldman Sachs Group Inc. and George Soros. Goldman Sachs, JPMorgan Chase & Co. and Barclays PLC are managing the share sale, according to a Bloomberg News report, citing the firm’s regulatory filing.
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Mortgage insurer Essent Group (ESNT) filed an initial public offering this week to raise $287.5 million, Reuters reports. Reuters says the IPO is part of an expansion plan to help the insurer.
While much of the financial sector has weakened, the mortgage insurance industry has remained firm. That’s helping Essent Group get a new shot at new highs.
Essent Group, a private equity-backed mortgage insurance company, priced its IPO at $17 per share and went public.Shares now trade on the NYSE under the symbol ESNT. The company took in private equity funding in 2009 from Pine Brook (which owned a 22.69% pre-IPO stake), Goldman Sachs (11.35%) and J.P. Morgan (8.87%), among others.
Shares of the private mortgage insurance company gained $3.98, or 23.5 percent, to $20.99 in morning trading. Essent Group Ltd. priced an initial public offering of approximately 19.7 million shares.
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Essent Group Ltd., the Bermuda-based mortgage insurer that. comment on the IPO. The filing proposes a $287.5 million offering, a placeholder amount used to calculate registration fees, which may.
Mortgage insurer Essent Group prices IPO at $17 a share Charlebois Contents Raise 7.5 million radian guaranty veteran mark casale’ Additional eligibility criteria Insurance operator essent group Bad mortgage loans forced.
Company Spotlight: MGIC Company Information About mgic strength ratings history careers Location. About MGIC Investment Corporation. MGIC, the principal subsidiary of MGIC Investment Corporation, is a private mortgage insurer that serves lenders throughout the United States, and Puerto Rico.
Once again, there are seven private mortgage. stopped writing new insurance. Essent Group Ltd and NMI, which raised about $510 million in a private placement of its shares in April 2012, have both.
Mortgage insurance operator Essent Group has just set the terms of its upcoming IPO, and while the offering sounds boring. snagging about 12% market share for new policies. Some of the reasons for.
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HAMILTON, Bermuda, Oct. 30, 2013 /PRNewswire/ — Essent Group Ltd. (the "Company") today announced that it had priced its initial public offering of 19,710,118 common shares at $17.00 per share.