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IVR Invesco Mortgage Capital Inc

7.74
-0.49 (-5.95%)
Last Updated: 20:50:00
Delayed by 15 minutes
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

Invesco Mortgage Closes Lower On First Day Of Trading

26/06/2009 9:49pm

Dow Jones News


Invesco Mortgage Capital (NYSE:IVR)
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   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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