Heritage Insurance raised just $66 million from its initial public offering (IPO) on the New York Stock Exchange.
Pricing of its shares fell below expectations as the insurer said it will list 6 million shares at $11 per share, instead of the targeted range of $14 to $16 per share.
The underwriters have been granted an option to purchase up to 900,000 shares if desired.
To continue reading, you need a subscription to Intelligent Insurer.
If you have already subscribed please login.
If you would like to us send you this article in full please email efield@newtonmedia.co.uk
Heritage Insurance, North America, IPO
