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Fieldstone Goes Public.(Fieldstone Investment Corp.)(Brief Article)
Columbia, MD -- Shares of Fieldstone Investment Corp. here began trading publicly on Feb. 3, after the Securities and Exchange Commission signed off on the nonconforming lender's registration statement.
The company received authorization to resell 43.3 million shares of its common stock which, previously, had been issued only privately.
In early February, shares in Fieldstone, the nation's 21st largest subprime funder, were trading for about $17.20 each, giving it a market capitalization of $745 million.
Under the registration statement, the stockholders were permitted - but not obligated - to sell some or all of the shares covered by the prospectus. (The stock was originally sold in a private placement late in 2003.)
The common stock of ...
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