Genworth Financial
The Richmond, Va.-based company, which owns an active mortgage insurer in the U.S., will price 220 million shares at $2.50 per ordinary share. The company has designated 20 million shares as overallocation shares, which could be reacquired.
The offering is expected to close on May 20.
Genworth CEO Tom McInerney said last month that net proceeds from the sale will be used to
The announcement comes after several delays by Genworth to spin off its Australian insurance business. Initial plans for an Australian IPO were sidetracked in
The company delayed plans for an IPO