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Employers Holdings goes public at $17 per share

Tue Jan 30, 2007 11:43pm EST

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NEW YORK, Jan 30 (Reuters) - EIG Mutual Holding Co., to be renamed Employers Holdings Inc. (EIG.N), said on Tuesday that its initial public offering of 26.75 million shares of common stock was priced at $17 per share.

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The company granted underwriters an option to purchase up to 4,012,500 shares of common stock to cover over-allotments, it said in a statement.

Morgan Stanley (MS.N) is serving as the lead bookrunner, with Cochran Caronia Waller Securities LLC, Fox-Pitt, Kelton Inc., and Keefe, Bruyette & Woods Inc. serving as co-managers.

The company, based in Reno, Nevada, specializes in workers' compensation insurance and services.

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