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PennyMac prices IPO at $18 midpoint
By: Renaissance Capital
PennyMac Financial Services, which originates, acquires and services residential mortgage loans, raised $200 million by offering 11.1 million shares at $18, at the midpoint of the range of $17 to $19. PennyMac Financial Services plans to list on the NYSE under the symbol PFSI. Citi, BofA Merrill Lynch, Credit Suisse and Goldman Sachs acted as lead managers on the deal.