Rocket Trims IPO By 39 Pct From $3.3B To $2B After Investors Reject Valuation
PYMNTS
AUGUST 5, 2020
The Detroit-based company is expected to market a reduced number of shares at about $18 to $20 apiece, Bloomberg reported, citing sources. The report stated the downsizing may signal the IPO market’s worry as the pandemic deepens across much of the U.S., Rocket describes itself as the largest retail mortgage lender in the U.S.
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