Over-the-counter shares of Fannie Mae, Freddie Mac jump after report Trump aiming for IPO of mortgage giants

Over-the-counter shares of Fannie Mae FNMA.PK and Freddie Mac FMCC.PK jump after a Wall Street Journal report that Trump administration is preparing to sell stock in mortgage giants later this year

FNMA jumps 19.7% to $9.90, while FMCC up 19% at $7.89

Plans under discussion could value the companies at roughly $500 billion or more combined, and fetch $30 billion - Wall Street Journal report

Fannie Mae and Freddie Mac have been under federal conservatorship since 2008, following the financial crisis during which both entities became insolvent amid the subprime mortgage meltdown

The companies did not immediately respond to Reuters' requests for comment