(Bloomberg) — Dan Gilbert’s long-awaited initial public offering of Rocket Cos. may have been downsized on Wednesday, but it finally reveals the vast fortune he’s built in a city battered by the last financial crisis.The listing values his mortgage company at about $35 billion after it priced 100 million shares at $18 each on Wednesday. While below a marketed range of $20 to $22 for 150 million shares, the Detroit-based firm, which includes Quicken Loans, has a higher market value than Ford Motor Co.The IPO makes Gilbert, 58, one of the biggest beneficiaries of the era of ultra-low interest rates …read more
Source:: Yahoo Finance
