23 May 2014 Insurance

Heritage sets its IPO share price

Heritage Insurance Holdings, a property and casualty insurance holding company, has set the price of its initial public offering of 6,000,000 shares at a price of $11 per share.

In connection with the offering, Heritage has granted underwriters a 30-day option to purchase up to 900,000 additional shares of common stock at the public offering price.

The shares will be listed on the New York Stock Exchange (NYSE) beginning on May 23, 2014, and will trade under the ticker symbol HRTG. The offering is expected to close on May 29, 2014, subject to customary closing conditions.

Citigroup Global Markets is serving as the sole book-runner on the offering.

SunTrust Robinson Humphrey and Sandler O'Neill & Partners are joint lead managers, and Dowling & Partners Securities, JMP Securities and Willis Securities are serving as co-managers.

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