Printer Friendly

FLEET MORTGAGE ANNOUNCES COMMENCEMENT OF INITIAL PUBLIC OFFERING

 FLEET MORTGAGE ANNOUNCES COMMENCEMENT OF INITIAL PUBLIC OFFERING
 COLUMBIA, S.C., July 31 /PRNewswire/ -- Fleet Mortgage Group, Inc. announced the commencement of its initial public offering of 8.3 million shares of the company's common stock at $23 per share. The company has been approved for listing on the New York Stock Exchange with the symbol "FLG." Fleet Mortgage has granted the underwriters an option for 30 days to purchase an aggregate of up to an additional 1,245,000 shares.
 Fleet Mortgage Group, the country's second largest producer of single-family mortgage loans in 1991, originates mortgage loans through 92 retail branch offices located in 35 states and acquires mortgage loans from other mortgage lenders. The company's portfolio of mortgage loans serviced, which totaled $60.6 billion at the end of June 1992, was the second largest in the industry.
 Fleet Mortgage Group had been a wholly owned subsidiary of Fleet Financial Group (NYSE: FLT), which will hold approximately 83 percent of the company's 48,300,000 shares of common stock outstanding immediately following the public offering.
 Goldman, Sachs & Co. is the lead managing underwriter of the offering. The First Boston Corporation and Salomon Brothers Inc. are co-managing underwriters.
 A prospectus may be obtained from any of the managing underwriters.
 -0- 7/31/92
 /CONTACT: Robert Lougee, 401-278-5879, or Judith Ragge, 401-278-6444, of Fleet Financial Group, or Robert Hubbel of Edelman Financial Relations, 212-704-8255, for Fleet Mortgage Group/
 (FLG FLT) CO: Fleet Mortgage Group, Inc.; Fleet Financial Group ST: South Carolina, Massachusetts IN: FIN SU: OFR


TM -- NE001 -- 5506 07/31/92 10:26 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jul 31, 1992
Words:265
Previous Article:STERLING SOFTWARE ANNOUNCES HIGHER EARNINGS FOR THIRD QUARTER AND FIRST NINE MONTHS
Next Article:INTERFIRST BANKCORP DECLARES CASH DIVIDEND
Topics:


Related Articles
FLEET MORTGAGE ANNOUNCES COMMENCEMENT OF INITIAL PUBLIC OFFERING
FLEET MORTGAGE GROUP REPORTS EARNINGS OF $29.4 MILLION IN THE THIRD QUARTER
FLEET MORTGAGE GROUP REPORTS NET INCOME OF $109.1 MILLION FOR 1992
FLEET MORTGAGE GROUP REPORTS FIRST QUARTER NET INCOME OF $26.8 MILLION
FLEET MORTGAGE GROUP REPORTS THIRD QUARTER NET INCOME OF $24.9 MILLION
FLEET MORTGAGE GROUP REPORTS NET INCOME OF $31 MILLION FOR 1993
FLEET INCITY SIX-MONTH PROGRESS REPORT: $1.212 BILLION IN AFFORDABLE HOUSING MORTGAGES, $32.2 MILLION IN MICROLOANS FOR BUSINESS
FLEET FINANCIAL GROUP COMMENCES TENDER OFFER TO PURCHASE REMAINING PUBLIC SHARES OF FLEET MORTGAGE GROUP
FLEET HAS ALREADY PLACED $2 BILLION IN LOANS AND MORTAGES UNDER INCITY PROGRAM
FLEET FINANCIAL GROUP COMPLETES PURCHASE OF PLAZA HOME MORTGAGE CORP.; WILL ADD $9.2 BILLION TO MORTGAGE SERVICING PORTFOLIO

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters