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Quicken Loans Files For New York Stock Exchange IPO As Rocket Companies

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Quicken Loans Files For New York Stock Exchange IPO As Rocket Companies

Detroit-based mortgage giant Quicken Loans is aiming to take Rocket Mortgage and connected businesses public under the name Rocket Companies, Inc. on the New York Stock Exchange, according to an S-1 filing made Tuesday with the Securities and Exchange Commission.

Rocket Companies is seeking to list under the ticker "RKT."

The number of shares to be offered and pricing have yet to be determined, according to the company.

What To Know: Rocket Companies, a holding company, includes Rocket Mortgage, Rocket Homes, Rocket Loans, Rocket Auto, Rock Central, Core Digital Media, Rock Connections, Lendesk and Edison Financial, according to the SEC filing.

The IPO underwriters named in the paperwork are Goldman Sachs, Morgan Stanley, Credit Suisse, JPMorgan, RBC Capital Markets and Siebert Williams Shank & Co.

Quicken Loans, which has 20,000 employees, was founded by Dan Gilbert in 1985. The company became the nation's largest residential mortgage lender in the fourth quarter of 2017, surpassing Wells Fargo (NYSE: WFC).

The company's 2019 net revenue totaled $5.1 billion, with the net income attributable to Rocket Companies totaling $893.8 million.

Quicken Loans chairman and founder Dan Gilbert. Photo courtesy of Emily Elconin.

 

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