Archive Details

Genworth Financial's Class A Common Stock Priced at $32.75 in GE's Secondary Public Offering


RICHMOND, Va., March 2 /PRNewswire-FirstCall/ -- Genworth Financial (NYSE: GNW) today announced the pricing of General Electric's (GE) secondary public offering of Genworth Class A Common Stock. Approximately 71 million shares of Class A Common Stock will be sold in the offering at a price to the public of $32.75 per share. Genworth will not receive any proceeds from this transaction.

Concurrently with the closing of the offering, Genworth also will repurchase 15 million shares of Genworth's Class B Common Stock directly from GE for $479 million. The repurchase will close simultaneously with, and be contingent upon, the closing of the secondary offering.

Upon completion of these transactions, GE will not own any shares of Genworth's common stock.

The global coordinator and bookrunner for the offering was Merrill Lynch & Co. Citigroup, Goldman, Sachs & Co., JPMorgan and Morgan Stanley & Co. Incorporated were also bookrunners. Interested parties may obtain a written prospectus relating to this offering from Merrill Lynch & Co., 4 World Financial Center, New York, NY 10080.

This announcement does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state in which the offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that state.

About Genworth Financial

Genworth is a leading insurance holding company, serving the lifestyle protection, retirement income, investment and mortgage insurance needs of more than 15 million customers, and has operations in 24 countries, including the U.S., Canada, Australia, Mexico the U.K. and 16 other European countries. For more information, visit

SOURCE Genworth Financial

CONTACT: Investors: Jean Peters, +1-804-662-2693,, or
Alicia Charity, +1-804-662-2248,, or
Media: Phil Moeller, +1-804-662-2534,,
all of Genworth Financial

Email Alerts

Email Address *
Mailing Lists *

Enter the code shown above.

Email IR

Tim Owens – Investor Relations

Contact IR