PennyMac Shares Rise on First Trading Day

By Bonnie Sinnock

Published May 09, 2013, 4:41 p.m. EDT

|

Updated May 09, 2013, 8:01 p.m. EDT

1 Min Read

PennyMac Financial Services’ Class A shares at the end of their first trading day on the New York Stock Exchange Thursday were up $1 at $19 per share, according to Yahoo Finance.

Processing Content

The company, which trades under the ticker symbol PFSI, had priced its initial public offering of 11,111,111 shares of Class A common stock at $18 per share on Wednesday.

Underwriters have a 30-day option to buy up to an additional 1,666,666 shares of Class A stock from the company at the IPO price less the underwriting discount. The offering is expected to close May 14.

Citigroup Global Markets Inc., BofA Merrill Lynch, Credit Suisse Securities (USA) LLC and Goldman Sachs & Co. are acting as joint book-running managers for the offering. Barclays Capital Inc., JPMorgan Securities LLC, Morgan Stanley & Co. LLC and Wells Fargo Securities LLC are acting as co-managers.

Capital Markets Editor

Bonnie Sinnock is National Mortgage News' Capital Markets Editor at Arizent and has worked for NMN and affiliated publications since 1995. Her... Read full bio

For reprint and licensing requests for this article, click here.

Secondary markets

MORE FROM NATIONAL MORTGAGE NEWS

Fraud

FBI: Real estate cyberfraud rises with more AI, crypto scams

The industry reported $275 million in losses from internet crimes last year, a 59% annual increase as losses nationwide surpassed $20 billion.

By Andrew Martinez
Reporter

April 10
Home equity loans

HEI customers file new class action against Unison

A Colorado couple filed suit after realizing they might owe as much as $279,000 on a home equity investment contract used to obtain $88,000 in 2018.

By Spencer Lee
Technology Reporter

April 10
Economic indicators

War, oil and inflation: What it means for rates

Economists surveyed by Wolters Kluwer are scaling back rate cut expectations as Iran conflict-driven energy costs push inflation higher, complicating the Fed's path forward.

By Brad Finkelstein
Originations Editor

April 10
Inflation

Energy prices drive up inflation by 0.9% in March

A 21.2% spike in the price of gasoline was the biggest contributor to a 0.9% increase in the Consumer Price Index in March, according to a Friday report from the Bureau of Labor Statistics. The agency said other price increases were largely contained.

By Ebrima Santos Sanneh
Reporter

April 10
Originations

Jumbo lending playbook: automation, overlays and ROI

Jumbo loans demand more scrutiny and documentation, but automation is streamlining the process — and lenders who master the product stand to gain in a moderately bullish market.

By Brad Finkelstein
Originations Editor

April 10
LoanDepot

LoanDepot taps Figure to launch 5-minute loan product

LoanDepot will integrate Figure's proprietary credit and loan underwriting engine into its own proprietary mello technology platform and point of sale system.

By Colin McNamara
Reporter

April 9

Load More