Genworth Financial Canada announced the details of its initial public offering today.
Canada’s 2nd largest mortgage default insurer will sell 44.7 million shares at $19 each. The target issue date is July 7, 2009. Thereafter, Genworth Canada will trade on the TSX under the symbol MIC.
The IPO will line Genworth’s coffers with about $635-$730 million.
Will be a 10 dollar stock in less than 6 months.
5 dollars in a year.
All the cash is going back to the U.S.
With Genworth being public they will have to disclose a lot to investors each quarter.
Does anyone know if CMHC has public earnings statements each quarter?
Holy cow, buy that and lose big.