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Mortgage lender loanDepot cuts IPO size to less than a fifth

Feb 11 (Reuters) - LoanDepot Inc downsized its initial public offering to less than a fifth of the previous offer, the mortgage lender said on Thursday.

The company sold 3.85 million shares at $14 each, raising $53.9 million. Earlier, loanDepot had aimed to sell 15 million shares between $19 and $21 each. (Reporting by Niket Nishant in Bengaluru, Editing by Sherry Jacob-Phillips)

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