Fannie Mae, Freddie Mac OTC shares extend gains

Over-the-counter shares of Fannie Mae FNMA.PK and Freddie Mac FMCC.PK rise for the third straight session

FMCC rises 11.8% at $8.91 after briefly hitting highest since 2008

FNMA up 6.1% at $10.60 at highest since late May when U.S. President Donald Trump said he was working on taking the housing giants public

U.S. President Donald Trump's administration has been eying an initial public offering of Fannie Mae and Freddie Mac later this year, a senior administration official told Reuters on Friday, confirming the Wall Street Journal's report

Billionaire investor Bill Ackman in an X post on Sunday suggested merging the two U.S. government-sponsored enterprises

Fannie Mae and Freddie Mac have been under the U.S. government's control since 2008 after they suffered heavy losses during the subprime mortgage crisis