Five Oaks Investment sees IPO of $85.5 million
(Reuters) - Five Oaks Investment Corp, an investor in mortgage-backed securities, said it expects to sell 5.7 million shares for $15 per share, raising $85.5 million in an initial public offering of its common stock.
The Maryland-based company added UBS, Mitsubishi UFJ Securities, Aegis Capital Corp and National Securities to its list of underwriters. (r.reuters.com/jun66t)
The company plans to list its common stock on the New York Stock Exchange under the symbol "OAKS". The company had earlier planned to list under the symbol "FOIC".
The company which filed for an IPO in December 2012, plans to use the proceeds from the IPO to buy residential mortgage-backed securities.
Barclays, Credit Suisse and UBS are lead underwriters to the offering.
(Reporting By Neha Dimri in Bangalore; Editing by Supriya Kurane)