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Article: Genworth Announces Filing of Preliminary Prospectus for Canadian Initial Public Offering.
- Article from:
- PR Newswire
- Article date:
- May 29, 2009
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RICHMOND, Va., May 29 /PRNewswire-FirstCall/ -- Genworth announced that a preliminary prospectus was filed today with the Canadian securities administrators for an initial public offering of a minority stake in Genworth's Canadian mortgage insurance operations. The offering is subject to customary regulatory reviews and market conditions and is expected to be completed in the third quarter of 2009.
Genworth previously announced that it expects to sell up to 49 percent of its ownership interest in the Canadian mortgage insurance business and plans to hold the majority position for the foreseeable future.
"We believe this IPO, when completed, reinforces ...