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Genworth Files Red Herring for Mortgage Unit IPO
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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.