April 1 Ellington Residential Mortgage REIT
filed with U.S. regulators to raise up to $100 million in an
initial public offering of its common shares, making it the
latest private equity-backed company to file to go public this
Blackstone Group -backed Ellington Residential
Mortgage, which invests in residential mortgage- and real
estate-related assets, did not disclose the number of shares it
planned to sell or their expected price.
Large companies that were taken over by private equity firms
during the 2005-2007 buyout heyday are starting to tap the
public markets as U.S. stock markets rally to record highs.
Private equity-supported companies such as Bain
Capital-backed Bright Horizons Family Solutions Inc,
Apollo Global Management-supported Norwegian Cruise Line
and Madison Dearborn-backed Boise Cascade have
had an impressive run on the markets after listing earlier this
Other private equity-backed companies such as drugmaker
testing services provider Quintiles Transnational Corp and
industrial distribution company HD Supply are also gearing up
for IPOs this year.
Ellington Residential Mortgage plans to list its shares on
the New York Stock Exchange under the symbol "EARN."
Credit Suisse Securities (USA) and Deutsche Bank Securities
are acting as representatives of the underwriters for the
The amount of money a company says it plans to raise in its
first IPO filings is used to calculate registration fees. The
final size of the IPO could be different.