By Reuters Staff
(Corrects typographical error in first paragraph)
May 13 (Reuters) - Insurer Genworth Financial Inc said on Thursday it had deferred the initial public offering of its mortgage insurance unit, Enact Holdings, citing significant trading volatility in the sector.
“Genworth’s Board of Directors determined that current market pricing for the planned offering does not accurately reflect Enact’s value,” Genworth Chief Executive Officer Tom McInerney, said.
McInerney said Genworth will continue to evaluate its options as market conditions develop.
The listing was proposed after a $2.7 billion buyout agreement between Genworth and billionaire Lu Zhiqiang’s investment firm, China Oceanwide Holdings Group Co, fell through last month.
By Reuters Staff
(Corrects typographical error in first paragraph)
(Reuters) -Insurer Genworth Financial Inc said on Thursday it had deferred the initial public offering of its mortgage insurance unit, Enact Holdings, citing significant trading volatility in the sector.
“Genworth’s Board of Directors determined that current market pricing for the planned offering does not accurately reflect Enact’s value,” Genworth Chief Executive Officer Tom McInerney, said.
McInerney said Genworth will continue to evaluate its options as market conditions develop.
The listing was proposed after a $2.7 billion buyout agreement between Genworth and billionaire Lu Zhiqiang’s investment firm, China Oceanwide Holdings Group Co, fell through last month.
MP Stuart Nash v Napier mayor Kirsten Wise as gang violence turns into political brouhaha
1 Apr, 2021 02:23 AM
5 minutes to read
MP for Napier Stuart Nash says the city is safe - despite gang violence. Photo / Paul Taylor
MP for Napier Stuart Nash says the city is safe - despite gang violence. Photo / Paul Taylor
Napier MP Stuart Nash has hit out at Napier mayor Kirsten Wise for publicly stating concerns for the safety of her city, and has suggested her council should enact a gang patch ban instead.
Wise told media this week that people in her city believe they are unsafe. Her comments were published the morning before Outlaws Motorcycle Club member Peter Michael Lui was fatally stabbed in Napier s Pandora industrial area.
US election: Final count under way in Georgia to decide Senate control
5 Jan, 2021 05:09 PM
7 minutes to read
Republicans need just one victory between Perdue and Loeffler, both seeking second terms, to maintain Senate control. Video / AP
Republicans need just one victory between Perdue and Loeffler, both seeking second terms, to maintain Senate control. Video / AP
Other
By: Steve Peoples, Bill Barrow & Russ Bynum of AP
Georgia voters are deciding the balance of power in Congress in a pair of high-stakes Senate runoff elections that will help determine President-elect Joe Biden s ability to enact what could be the most progressive governing agenda in generations.