Genworth Financial Inc. (GNW) climbs 7%, Offer Price Fixed at $11.75 per share

Shares of Genworth Financial, Inc. (NYSE: GNW) surged 7% to $12.91 on massive volume if 28.17 million within an hour of trading after the Company announced that it has priced a public offering of 48.0 million shares of its class A common stock at a public offer price of $11.75 per share. To the extent that the underwriters sell more than 48.0 million shares of class A common stock, the underwriters have the option to purchase up to an additional 7.2 million shares of class A common stock from Genworth.