RICHMOND, Va., Dec. 1 /PRNewswire-FirstCall/ -- Genworth Financial
(NYSE: GNW) today announced the pricing of GE's secondary public offering of
Genworth's Class A common stock. GE agreed to sell a total of 38 million
shares to Morgan Stanley & Co. Incorporated, as the sole underwriter of the
offering, at a price of $34.66 per share. GE granted an over-allotment option
to permit the underwriter to purchase an additional 2.85 million shares.
If the over-allotment option is fully exercised, GE will own approximately
18 percent of Genworth's common stock. If the underwriter's over-allotment
option is not exercised, GE will own approximately 19 percent of Genworth's
common stock. Genworth will not receive any proceeds from the transaction.
GE's sale of shares was concurrent with the addition of Genworth Financial
to the Standard & Poor's 500 Index. GE has announced its intent to sell its
remaining holdings of Genworth by the end of 2006.
The sole bookrunner and sole manager for the offering was Morgan Stanley &
Co. Incorporated. Interested parties may obtain a written prospectus relating
to the offering from Morgan Stanley & Co. Incorporated, 180 Varick Street, New
York, New York 10014 or by email at prospectus@morganstanley.com.
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 Financial (NYSE: GNW) is a leading insurance holding company,
serving the lifestyle protection, retirement income, investment and mortgage
insurance needs of more than 15 million customers, with operations in 24
countries, including the U.S., Canada, Australia, the U.K. and more than a
dozen other European countries. For more information, visit
http://www.genworth.com.
Caution Concerning Forward-Looking Statements
This document includes certain "forward-looking statements" within the
meaning of the Private Securities Litigation Reform Act of 1995. These
forward-looking statements include, but are not limited to our plans,
objectives, expectations and intentions and other statements contained in this
report that are not historical facts as well as statements identified by words
such as "expects," "anticipates," "intends," plans," "believes," "seeks,"
"estimates," or words of similar meaning. These statements are based on our
current beliefs or expectations and are inherently subject to significant
uncertainties and changes in circumstances, many of which are beyond our
control. Actual results may differ materially from these expectations due to
changes in global political, economic, business, competitive, market and
regulatory factors.
SOURCE Genworth Financial
CONTACT: Investors - Alicia Charity, +1-804-662-2248,
Alicia.Charity@genworth.com, or Media - Phil Moeller, +1-804-662-2534,
Philip.Moeller@genworth.com, all of Genworth
