Dec 20 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
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
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.