Cityscape Financial Corp., Elmsford, N.Y., announced it was considering filing a registration statement with the Securities and Exchange Commission for a public offering of about five million shares of its common stock.
Of the amount, four million would be sold by Cityscape and one million by certain stockholders, including members of management.
Following such an offering, management and the board of directors would hold about 60.7% of the 33.6 million outstanding common shares. Members of management would sell shares only in a pro-rata participation in the contemplated offering.
Cityscape is a fast-growing residential lender specializing in making and servicing home equity loans. It is one of the few U.S.-based companies that is also actively making home loans in Britain.
The company was founded in 1985 and has regional processing offices in California, Georgia, Illinois, and Virginia.
In a separate development, United Companies Financial Corp., Baton Rouge, La., said it had filed a listing application with the New York Stock Exchange for its convertible preferred shares.
United said it had been informed that it meets listing requirements. Trading is expected to begin Sept. 20.