Genworth does not need any IPO to start stock buybacks. .
Genworth will earn 220k my guess this quarter.
So take 100 million and on bad days just start buying.
Apple did it and later announced it.
If Genworth announced it then the stock could be 17+
Start the buybacks then announce it.
There's plenty of money from earnings to buy back shares.
They could even announce they will be buying back 10 million shares over the next yr. Would probably cost them between $170Million to $180Million, which they can afford and give the stock a nice boost.