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Ellington financial (efc)
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 This company completed an initial public offering (IPO) of its stock in 2010. View articles that reference this company.
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Ellington Financial LLC (NYSE:EFC) is a specialty finance company which invests in mortgage-related assets. The company has a few main target assets which include mortgage-related derivatives, residential mortgage back securities, and corporate debt and equity securities and derivatives. The company makes money by analyzing, trading, and hedging on complex mortgage backed securities.[1]

The company's initial public offering of stock on the NYSE and occurred on October 7, 2010. Its initial price range was $22-$24, and the stock price at the lower end at $22.50. The company sold 4.5M shares and raised $101M. The lead underwriter of the deal was Deutsche Bank AG (DB).[2]

The company experienced a net realized loss in 2009 of $12M. However, in 2008, the company experienced a gain of $59M.[3] Due the the financial crisis, the company's total assets lost substantial worth. However since then, its assets' values have rise from $243M in 2007 to $1.530M in 2009. The company expects this trend to continued.[4]


References

  1. ↑ EFC S-11 2010 "Prospectus Summary" pg 1-2
  2. ↑ Renaissance Capital - IPO Home "Ellington Financial prices IPO at $22.50, within the range" 7 Oct 2010
  3. ↑ EFC S-11 2010 "Summary Consolidated Financial Information" pg 21
  4. ↑ EFC S-11 2010 "Summary Consolidated Financial Information" pg 22
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