LoanDepot, Holders Seek as Much as $315 Million in U.S. IPO
(Bloomberg) -- Mortgage lender LoanDepot Inc. and its shareholders are seeking as much as $315 million in a U.S. initial public offering.
The Foothill Ranch, California-based company plans to offer 9.4 million shares in the offering, while its existing backers will sell 5.6 million shares, according to a filing with the U.S. Securities and Exchange Commission on Wednesday. The shares are offered at $19 to $21 apiece, the prospectus shows.
LoanDepot is joining a wave of mortgage lenders, who have benefitted from record-low interest rates, in tapping the IPO market. AmeriHome Inc. has refiled its listing documents after delaying the offering from last year, when Caliber Home Loans Inc. also postponed its offering.
Goldman Sachs Group Inc., Bank of America Corp., Credit Suisse Group AG and Morgan Stanley are leading LoanDepot’s IPO. It plans to list on the New York Stock Exchange under the symbol LDI.
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