Rocket Companies, the parent company of mortgage lender Quicken Loans, expects to raise $3.3 billion in its initial public offering.
The company will offer 150 million shares at a price between $20 and $22 per share, valuing the company at about $43.69 billion.
The company is planning a four-class stock structure featuring different voting rights. Rocket has applied to be listed on the New York Stock Exchange under the ticker "RKT."
Rocket's debut could be the biggest U.S. listing so far in 2020.
The company, which was founded by billionaire Dan Gilbert, said that it expects a profit of more than $3 billion in the second quarter, compared to a loss last year.
The company has opened up its books ahead of its debut, disclosing that about 98,000 clients, or 5.1% of its serviced loans, were on forbearance plans as of June 30.
Rocket Companies reported $1.36 billion in total revenue in the first quarter thanks to strong gains on the sale of loans and said that it will be able to top total revenue in each of the last five years if it can keep pace for the rest of the fiscal year.
Total net revenue for the year is expected to be between $4.93 billion and $5.13 billion, five times more than it generated a year earlier.
“While the financial markets have demonstrated significant volatility due to the economic impacts of COVID-19, interest rates have fallen to historic lows resulting in increased mortgage refinance originations and favorable margins," the company said in its S-1 filing.