Enact Holdings, formerly Genworth Mortgage Holdings, has announced the pricing of its initial public offering of 13,310,400 shares of common stock.
The shares will be offered at a price range between $19 and $20 apiece. Enact intends to grant the underwriters a 30-day option to purchase up to an additional 1,996,560 shares of the stock. The company has applied to list its shares on the Nasdaq Global Select Market under the ticker symbol “ACT.”
Upon the completion of the IPO, the net proceeds will go to Genworth Holdings (GHI), Enact’s subsidiary and the selling stockholder of all the shares.