Genworth Financial, Inc.: Another Bite At The IPO Apple

Summary

• Genworth has refiled its planned IPO of Enact Holdings, Inc. with the SEC after shelving it earlier this year.
• The proceeds from the IPO, private placement of additional shares, and a fourth quarter dividend from Enact will put Genworth in a strong financial position heading into 2022.
• Executing the IPO and private placement will also likely result in a multiple notch rating increase of Genworth's credit.
• These moves should ultimately move Genworth's stock higher.

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This is a follow-up to a previous SA article discussing the impact on Genworth Financial, Inc. (NYSE: NYSE:GNW) (hereinafter "Genworth") from the planned IPO of Enact Holdings, Inc. (NASDAQ: ACT) (hereinafter "Enact"), Genworth's U.S. mortgage insurance

Analyst’s Disclosure:I/we have a beneficial long position in the shares of GNW either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.