The Genesis investment vehicle will be part of a portfolio of Genesis stocks with options, which means the company will hold a certain amount of its stock for each purchase.
Genesis shares were up 0.3% on the day.
In a statement, Genesis said its share price has been driven up in part by rising interest from potential investors.
“In addition to the opportunities for further growth and shareholder value in the coming months, we are continuing to expand our network of advisors and support staff, which will allow us to continue to deliver value to our investors,” the company said.
Genesis also said it has expanded its dividend payment, which is expected to be $2 a share.
The company also said the first $2 million in the offering will go to the employees and investors of Genesis who are “experienced and skilled in investment management and investing.”
It is the second Genesis IPO this year.
In May, the company announced it had completed a $200 million investment in the development of a new medical-device business.
The stock will go public this year, according to the company.