REIT Zais Financial files for $140 mln IPO

Wed Jan 9, 2013 1:00pm EST

Jan 9 (Reuters) - Zais Financial Corp, a REIT that invests in residential mortgage assets, filed with regulators to raise up to $140 million in an initial public offering of its shares.

The company is managed by Zais Reit Management, a unit of Zais Group, a privately held investment adviser with about $5.5 billion of assets under management as of Sept. 30.

Red Bank, New Jersey-based Zais Financial did not reveal the number of shares it planned to sell or their expected price.

The company held a diversified portfolio of Residential Mortgage-Backed Security (RMBS) assets with an estimated fair market value of $163.4 million, as of Sept. 30.

Deutsche Bank Securities, Citigroup, Barclays Capital and Credit Suisse are the lead underwriters for the offering, the REIT said in a preliminary filing with the U.S. Securities and Exchange Commission. ()

Zais Financial plans to list on the New York Stock Exchange under the symbol "ZFC."

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.