Rocket Companies RKT made its public debut Thursday morning, opening at $18 after being priced at $18.
The company listed its shares on the NYSE under the ticker symbol RKT. Underwriters for the IPO includes Goldman Sachs, Morgan Stanley and Credit Suisse.
This highly-anticipated debut comes after the IPO market cooled down since the spring. Last month, Rocket Companies said it had planned to raise as much as $3.8 billion by selling 150 million shares at a target offering price range of between $20 and $22.
The IPO's proceeds will be used to finance business purchases and stock from Rocket's existing holding company, Rock Holdings Inc., owned by founder and majority shareholder Dan Gilbert.
Related Link:
Quicken Loans Chairman Dan Gilbert. Photo by Emily Elconin.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.