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Genworth Files Red Herring for Mortgage Insurance Unit IPO

What You Need to Know Genworth Financial is moving toward selling a stake in its mortgage insurance business through an IPO. Genworth Mortgage Holdings works with about 1,800 mortgage lenders, including 19 of the 20 biggest mortgage loan originators. The prospectus lists the COVID-19 pandemic as well as its parent s LTCI business as risk factors. Genworth Financial Inc. has started filing the paperwork to sell a stake in its mortgage insurance business to public investors through an initial public offering. A “red herring,” or preliminary prospectus, for the IPO shows that Genworth Mortgage Holdings Inc. would be based in Raleigh, North Carolina, and could have stock that would trade on the Nasdaq Global Select Market.

Genworth Announces Filing of Registration Statement for Proposed Initial Public Offering by its U S Mortgage Insurance Business

Share this article Share this article RICHMOND, Va., April 19, 2021 /PRNewswire/ Genworth Financial, Inc. (NYSE: GNW) (Genworth, the Company) today announced that its wholly owned subsidiary, Genworth Mortgage Holdings, Inc. (GMHI), has filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission (the SEC) in connection with the proposed initial public offering (the offering) of its common stock. The number of shares to be offered and the price range for the proposed offering have not yet been determined. The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

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