Symetra Financial files for $750 mln IPO
June 29 |
June 29 (Reuters) - Symetra Financial Corp., a life insurance company, filed with U.S. regulators on Friday to raise up to $750 million in an initial public offering of common stock.
All the shares are being offered by the company's selling stockholders. The filing did not reveal how many shares the company planned to sell or their expected price.
In addition to the affiliates of White Mountains Insurance Group Ltd. and Berkshire Hathaway Inc., who led the investor group that formed Symetra, others from the original investor group may participate in this offering as selling stockholders.
The Bellevue, Washington-based company, which has applied for a New York Stock Exchange listing under the symbol "SYA," told the U.S Securities and Exchange Commission in a preliminary prospectus that Merrill Lynch & Co. and Goldman, Sachs & Co., among others, were underwriting the IPO. (Reporting by Sayantani Ghosh in Bangalore)
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