A Quicken Loans IPO may be on the way if recent reports about the mortgage company are true.
Here’s what potential investors need to know about the possible Quicken Loans IPO.
- Reports claim that the company has already privately filed documents for the IPO.
- It’s still unknown how much Quicken Loans is seeking for valuation from the IPO.
- However, some sources claim that it could be in the tens of billions of dollars range.
- The reports also say that the company has brought in Morgan Stanley, Goldman Sachs, Credit Suisse and JPMorgan for the IPO.
- While it’s unknown when the company will seek out the IPO, sources say it could be as early July.
- It’s also unknown what market the company will trade on or which ticker it will use.
- All of this info comes from unnamed sources close to the matter.
- A spokesperson from the company hasn’t confirmed if a Quicken Loans IPO is in the works.
- Instead, they simply stated that the company is often the target of rumors and speculation and that any new news will come directly from it.
- The timing for an IPO makes sense with many mortgage companies seeing booms in the business right now.
- That’s due to interest rates falling as low as 2.97%, which in turn has people refinancing their loans.
- It would also make sense to do an IPO now as markets begin to recover from the novel coronavirus.
- Some companies, such as Vroom (NASDAQ:VRM) and Warner Music Group (NASDAQ:WMG) have launched IPOs recently.
As of this writing, William White did not hold a position in any of the aforementioned securities.