Tuesday, 22 July 2014
Last updated 1 hour ago
Oct 8 2010 | 11:42am ET
Ellington Management listed its subprime mortgage hedge fund on the New York Stock Exchange this morning after selling $101 million worth of shares.
The oft-delayed initial public offering priced at $22.50 each, within the $22 to $24 range. The proceeds will be used to provide permanent capital to the now-$350 million fund.
Ellington Financial has also granted the underwriters, Deutsche Bank and Cantor Fitzgerald, an over-allotment of 675,000 shares.
The fund trades under the ticker symbol EFC, and dipped 51 cents after its debut.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…