PIMCO Mortgage Income Trust (PMTG) expects to raise $1 billion in an initial public offering (IPO) on Thursday, May 16th, IPO Scoop reports. The company will be issuing 50,000,000 shares at $20.00 per share.
The company has a market-cap of $1 billion.
Credit Suisse, BofA Merrill Lynch, Goldman Sachs, Morgan Stanley, J.P. Morgan, UBS Investment Bank, Citigroup, Wells Fargo Securities and RBC Capital Markets served as the underwriters for the IPO and JMP Securities, Keefe, Bruyette & Woods (A Stifel Company), JonesTrading and Nomura were co-managers.
PIMCO Mortgage Income Trust provided the following description of their company for its IPO: ” We are a newly organized real estate finance company that intends to acquire, manage and finance, directly or through our subsidiaries, Agency RMBS, MSRs, Non-Agency RMBS, residential mortgage loans and other real estate-related assets. We refer to all of the above assets as our Target Assets. We seek to provide attractive risk-adjusted returns to stockholders over the long term, primarily through dividends and distributions and secondarily through capital appreciation. We will seek to employ a flexible and relative value focused investment strategy and expect to reallocate capital from time to time among our Target Assets. “.
PIMCO Mortgage Income Trust was founded in 2019 and has 0 employees. The company is located at 650 Newport Center Drive, Newport Beach, CA 92660, US and can be reached via phone at (949) 720-6000.
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