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Rocket Companies Opens For Trading At $18 IPO Price

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Rocket Companies Opens For Trading At $18 IPO Price

Rocket Companies (NYSE: RKT) made its public debut Thursday morning, opening at $18 after being priced at $18.

The company listed its shares on the NYSE under the ticker symbol RKT. Underwriters for the IPO includes Goldman Sachs, Morgan Stanley and Credit Suisse.

This highly-anticipated debut comes after the IPO market cooled down since the spring. Last month, Rocket Companies said it had planned to raise as much as $3.8 billion by selling 150 million shares at a target offering price range of between $20 and $22.

The IPO's proceeds will be used to finance business purchases and stock from Rocket's existing holding company, Rock Holdings Inc., owned by founder and majority shareholder Dan Gilbert.

Related Link:

Rocket Companies Prices IPO At $18 Per Share: Here's Why It Marks A Paradigm Shift In Financial Services

Quicken Loans Chairman Dan Gilbert. Photo by Emily Elconin.

 

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