Genworth revives mortgage insurance unit’s IPO, targets over $3 bln valuation

Sept 13 (Reuters) – Genworth Financial Inc on Monday revived plans for an initial public offering (IPO) of Enact Holdings, aiming for a valuation of more than $3 billion for its mortgage insurance unit, according to a regulatory filing.

The company had deferred the IPO https://www.reuters.com/article/us-enact-ipo-idUSKBN2CU0ZR in May due to market volatility, with Chief Executive Officer Tom McInerney saying the market pricing did not accurately reflect the company’s value.

Enact’s existing shareholders plan to raise as much as $266.21 million by selling about 13.31 million shares in the IPO, priced between $19 and $20 per share. Proceeds from the sale

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