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Starwood Property Trust, Inc. Celebrates IPO, First Day of Trading on NYSE
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-- Fifth Domestic Real Estate Investment Trust IPO and Largest REIT IPO to Liston the NYSE in 2009 - -
NEW YORK , August 12, 2009 – Starwood Property Trust, Inc., headquartered in Greenwich, Conn., opened for trading today on the New York Stock Exchange under the ticker symbol “STWD” after its successful initial public offering in which it raised $810 million in gross proceeds. Starwood Property Trust, Inc. is the fifth domestic Real Estate Investment Trust IPO and largest REIT IPO to list on the NYSE in 2009.
“We welcome Starwood Property Trust, Inc. and congratulate the company on the successful completion of its IPO,” said Scott R. Cutler, NYSE Euronext EVP and Head of Listings, Americas . “Starwood Property Trust, Inc. is poised to be a leader in its industry and as the largest REIT IPO this year, the company is a significant addition to the NYSE.”
Starwood Property Trust is the fifth REIT IPO to list on the NYSE this year, joining the following: PennyMac Mortgage Investment Trust (NYSE: PMT), which raised $320 million in proceeds; Invesco Mortgage Capital, Inc. (NYSE: IVR), which raised $170 million in proceeds; Cypress Sharpridge Investments, Inc. (NYSE: CYS), which raised $100 million in proceeds; Government Properties Income Trust (NYSE: GOV ), which raised $200 million in proceeds. Total dollar amount raised by REIT IPOs going public on the NYSE this year exceeds $1.6 billion.
About Starwood Property Trust, Inc.
Starwood Property Trust is focused on originating, financing and managing U.S. commercial and residential mortgage loans, commercial mortgage-backed securities, and real estate debt investments. It expects to compete with a variety of institutional investors, including other REITs, public and private funds, commercial and investment banks, and insurance companies, to acquire discounted loans from failed banks and financial institutions, some through the FDIC, which typically auctions off large pools of loan portfolios. (Source Starwood Property Trust, Inc.)
About NYSE Euronext
NYSE Euronext (NYX) is a leading global operator of financial markets and provider of innovative trading technologies. The company's exchanges in Europe and the United States trade equities, futures, options, fixed-income and exchange-traded products. With more than 8,000 listed issues, NYSE Euronext's equities markets -- the New York Stock Exchange, Euronext, NYSE Arca and NYSE Amex -- represent nearly 40 percent of the world's equities trading, the most liquidity of any global exchange group. NYSE Euronext also operates NYSE Liffe, the leading European derivatives business and the world's second-largest derivatives business by value of trading. The company offers comprehensive commercial technology, connectivity and market data products and services through NYSE Technologies. NYSE Euronext is in the S&P 500 index, and is the only exchange operator in the S&P 100 index and Fortune 500. For more information, please visit: http://www.nyx.com
Disclaimer
NYSE Euronext and its affiliates do not recommend or make any representation as to possible benefits from any securities or investments, or third-party products or services. Investors should undertake their own due diligence regarding their securities and investment practices. This press release speaks only as of this date. NYSE Euronext disclaims any duty to update the information herein.
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