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During the IPO season Francis Gaskins, editor of IPOdesktop.com & director of research for Equities.com, regularly appears on CNBC TV, Bloomberg, thestreet.com & other financial cable channels. On the day of the Visa IPO he appeared on four cable TV financial shows including Bloomberg... More
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  • Primerica: Citigroup Spin-Off, IPOreport updated with IPO price 0 comments
    Apr 1, 2010 3:45 PM | about stocks: PRI, AMP, GNW, MET, PRU, C
    Primerica: Citigroup Spin-Off, IPOreport updated with IPO price

    +33% Primerica (NYSE:PRI) IPO

    At the IPO price of $15 PRI was valued at $1,125mm.  This Primerica sale by Citigroup is part of Citi’s asset divestiture program

    Even at the IPO price of $15 PRI sold at a discount (based on P/E ratios & book values) to some of the peers mentioned in the PRI SEC filing.  PRI will pay a small dividend. 

    Post-IPO:
    . If all options are exercised -- and it is likely they will be – then Citi will own 33% of PRI. .Warburg Pincus will own 38% if all options are exercised.”
    . “Citi intends to divest its remaining interest in us as soon as is practicable”

    Primerica IPOreport




    Disclosure: none
    Themes: IPO, IPOs Stocks: PRI, AMP, GNW, MET, PRU, C
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