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Mortgage insurance company Essent Group files for a $288 million IPO
By: Renaissance Capital
Essent Group, a privately-funded mortgage insurance company, filed on Monday with the SEC to raise up to $288 million in an initial public offering. The Hamilton, Bermuda-based company, which was founded in 2008 and booked $85 million in sales for the 12 months ended June 30, 2013, plans to list on the NYSE under the symbol ESNT. Essent Group initially filed confidentially on July 30, 2013. Goldman Sachs, J.P. Morgan and Barclays are the joint bookrunners on the deal. No pricing terms were disclosed.