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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Invesco Mortgage Capital Inc | NYSE:IVR | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
-0.49 | -5.95% | 7.74 | 7.84 | 7.66 | 7.83 | 2,106,729 | 20:50:00 |
DOW JONES NEWSWIRES
Invesco Mortgage Capital Inc. (IVR) drew a slightly negative reaction from investors on its first day of trading Friday amid a broad market downturn.
The stock closed the day at $19.42 a share on the New York Stock Exchange, down from its initial public offering price of $20. Along with the IPO, which Thursday had been cut to 8.5 million shares from 20 million shares, the real-estate investment trust also plans to sell 100,000 common shares of Invesco Ltd. (IVZ) and 1.9 million units of limited partnership interests in its operating partnership to Invesco Ltd.
Invesco Mortgage is the fourth IPO this week. Medical-software company Medidata Solutions Inc. (MDSO) raised $88.2 million in an offering Thursday and ended its first day of trading up 21% at $17.
Wednesday, Chemspec International Ltd. (CPC) and Duoyuan Global Water Inc. (DGW) raised $73 million and $88 million, respectively, by selling American depositary shares.
More than two companies had not gone public in the same week in the U.S. since May 2008.
Invesco Mortgage plans to use proceeds from the IPO and the private placement to buy residential mortgage-backed securities, commercial mortgage-backed securities and certain mortgage loans.
-By Kerry E. Grace, Dow Jones Newswires; 201-938-5089; kerry.grace@dowjones.com
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