Genworth plans IPO of up to $754m

The company is selling between 195 million and 260m shares in IPO, due to begin trading on ASX on May 23.

Genworth Mortgage Insurance Australia plans to raise between $429 million and $754m in an initial public offering.

In a prospectus posted on its website and lodged with Australian Securities and Investments Commission (ASIC), Genworth Australia said it plans to sell between 195m and 260m shares at between $2.20 and $2.90 a share to individual investors and fund managers beginning next month.

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