Fannie Mae (FNMA)

[kthomp19]

$0.69-$8.07 for the commons with a weighted average of $4.65. This assumes a $100B common share raise. This post I wrote outlines the math.

Full par for the medium-div prefs if divs get turned back on. Somewhat less for the low-div series, somewhat more for the higher ones.

If the juniors get converted to common as I expect will happen, that could become 120-140% of par due generous conversion terms and the possibility of future appreciation from there.

The target time is about a year from now when the re-IPO happens. That's the best estimate for its timing, though it could happen later, and it's possible (though unlikely) it happens earlier in 2021.