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TORONTO, June 29, 2016 /CNW/ - MCAP Corporation ("MCAP") announced today, due to current adverse market conditions, it will not be proceeding with its initial public offering of common shares at this time.
About MCAP Corporation
MCAP has over $56 billion in mortgages under administration. MCAP originates, funds and services residential, commercial and construction mortgages for a wide variety of institutional investors and through securitization. MCAP's most significant operations are in the prime single-family residential mortgage market with approximately $11 billion of such mortgages funded in its fiscal 2015 year.
SOURCE MCAP Corporation
For further information: Gordon Herridge, SVP, Shareholder Relations, (416) 591-5553, Gord.Herridge@mcap.com