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The country’s top mortgage lender is expected to price its IPO below expectations at $18 a share, according to people familiar with the matter.
Rocket Companies Inc., parent company of Quicken Loans, is also likely to sell about 100 million shares in its offering, fewer than the 150 million the company had originally planned, the people said. The smaller-than-expected offering, at a lower price, illustrates how even as the IPO market has warmed in recent months, investors are still sensitive to price when the coronavirus has destabilized the economy.
