Five Oaks Investment files for IPO of up to $115 mln
Dec 20 (Reuters) - Five Oaks Investment Corp, an investor in mortgage-backed securities, filed with U.S. regulators to raise up to $115 million in an initial public offering of its common stock.
Barclays and Credit Suisse are underwriting the IPO, the Maryland-based company, managed by Oak Circle Capital Partners LLC, said in a preliminary prospectus.
XL Global Inc, a subsidiary of insurance and reinsurance group XL Group Plc, owns a minority stake in Oak Circle.
The filing with the U.S. Securities and Exchange Commission did not reveal how many shares Five Oaks planned to sell or their expected price.
The company plans to list its common stock on the New York Stock Exchange under the symbol "FOIC."
Five Oaks, which had asset portfolio worth $80 million as of Sept. 30, plans to use the proceeds to buy residential mortgage-backed securities.
The amount of money a company says it plans to raise in its first IPO filing is used to calculate registration fees. The final size of the IPO could be different.
- Pope attacks mega-salaries and wealth gap in peace message
- Atheists face death in 13 countries, global discrimination: study
- South Africa admits mistake over 'schizophrenic' Mandela signer |
- Missouri executes man for killing good Samaritan motorist in 1994
- Thai military heads agree to meet protest leader at weekend |