PMTG News

After the busiest week of the year in the prior week, May 2019 continued to be active this past week with five IPOs and one SPAC offering. Three came to market with valuations of more than $1 billion, including fast-growing unicorns Luckin Coffee and Fastly, and Avantor, the largest IPO of an LBO'd company since 2011. Avantor (AVTR), an LBO'd...read more

PIMCO Mortgage Income Trust, a newly formed residential mortgage REIT managed by PIMCO, postponed its IPO on Tuesday. It had filed to raise $1.0 billion by offering 50 million shares at a price of $20. The Newport Beach, CA-based company had planned to list on the NYSE under the symbol PMTG. Credit Suisse, BofA Merrill Lynch, Goldman Sachs, Morgan Stanley, J.P. Morgan, UBS...read more

Seven IPOs are set to raise $4.85 billion in the week ahead, along with one blank check company. In addition to two REITs, a biotech, a small software maker, and a chemicals distributor, the line-up includes two high-growth unicorns: China-based coffee retailer Luckin Coffee (LK) and San Francisco-based website speed platform Fastly (FSLY). ...read more

PIMCO Mortgage Income Trust, a newly formed residential mortgage REIT managed by PIMCO, announced terms for its IPO on Monday. The Newport Beach, CA-based company plans to raise $1.0 billion by offering 50 million shares at a price of $20. Insiders intend to purchase $25 million worth of shares in the offering (2.5% of the deal). At $20, PIMCO Mortgage Income Trust would...read more