Rocket Companies Inc., the parent of Rocket Mortgage and Quicken Loans, filed for an initial public offering Tuesday. The company intends to list an undisclosed number of Class A shares on the New York Stock Exchange under the symbol RKT, according to its Form S-1.

“Our digital-first brand is a driver for growth in this highly-fragmented market,” Quicken Loans CEO Jay Farner said in a letter contained within the filing. “Even with the title of largest mortgage lender, we believe there is significant opportunity ahead and fresh strategies to reach even more clients.”

In the company’s condensed statement of income, it reported a net income of $97.7 million for the first three months ending on March 31, compared to a loss of $299 million over the same time period in 2019. As of March 2020, it reported, $21.3 billion in total assets and $17 billion in total liabilities, for a total equity of $3.7 billion, according to the filing.

The market share of Rocket Companies’ flagship business, Rocket Mortgage, increased to 9.2% in the first quarter of 2020, up from 1.3% in 2009, according to the filing. “Of the clients that applied using our online platform or app, 75% are first-time homeowners and/or Millennials,” the filing says. ” As these groups mature and continue to demand a more digital experience, we anticipate that their previous positive experiences with Rocket Mortgage will result in repeat business and further growth of our Company.”

The news follows reports last month that Quicken Loans was planning an IPO. There have been 65 initial public offerings so far this year that have raised a total of $22,4 billion, according to Renaissance Capital.

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