{ "market" : {"NAME" : "U.S.", "ID" : "us_market", "TZ" : "ET", "TZOFFSET" : "-18000", "open" : "", "close" : "", "flags" : {"h" : "Thanksgiving Day"}} , "STREAMER_SERVER" : "http://streamerapi.finance.yahoo.com","arrowAsChangeSign" : false,"throttleInterval": "1000"}
ap

Arlington Asset to sell up to full stake in FBR

Arlington Asset Investment to sell up to full stake in FBR Capital Markets in public offering

  • On 6:42 pm EDT, Tuesday October 20, 2009

NEW YORK (AP) -- Arlington Asset Investment Corp. said Tuesday it will sell 12.8 million shares of FBR Capital Markets in a public offering.

Underwriters will have a 30-day option to buy up to another 1.9 million shares. If the option is exercised, the stock sale would represent Arlington's entire stake in FBR, according to Capital IQ.

Arlington currently holds a 23.2 percent stake in FBR.

FBR and Barclays Capital Inc. are joint book-running managers for the offering. Sandler O'Neill & Partners LP is co-manager.

FBR said it will not receive any proceeds from the sale.

Shares of FBR fell 21 cents, or 3.1 percent, to $6.55 in after-hours trading. Arlington shares fell 10 cents to $13.95.

Related Headlines

Related Blog Headlines

Top Stories

Related Message Boards

Sponsored Links

Copyright © 2009 The Associated Press. All rights reserved. The information contained in the AP News report may not be published, broadcast, rewritten, or redistributed without the prior written authority of The Associated Press.