Economy Blog » Federated Vulturing Into Mortgages Via IPO (FII, PNT)

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Federated Vulturing Into Mortgages Via IPO (FII, PNT)

Point Asset Management, Inc. has filed to sell up to $250 million in an initial public offering and it will trade on the New York Stock Exchange under the symbol “PNT.” Deutsche Bank is listed as the sole underwriter as of now. It will also be qualified as a REIT, so ownership of common stock by any person is generally limited to 9.8% in value or in number of shares. It will also be externally managed by Federated Investment Counseling, an indirect wholly-owned subsidiary of Federated Investors Inc. (NYSE:FII). Point Asset Management, Inc. is a Maryland corporation that will invest…
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