Private Equity

Rocket To Cut Ipo To About $2 Billion From $3.3B

by finance.yahoo.com posted 12months ago 77 views
(Bloomberg) -- Rocket Companies Inc., the parent of the mortgage giant founded by billionaire Dan Gilbert, is now seeking to raise about $2 billion in an initial public offering after initially targeting as much as $3.3 billion, according to people familiar with the matter.The Detroit-based company -- which expects to price its IPO Wednesday -- is set to market a reduced number of shares at about $18 to $20 apiece, said the people, who asked to not be identified because the matter isn’t public.

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