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Primerica: Citigroup Spin-Off, IPOreport updated with IPO price

|Includes:AMP, C, GNW, MET, Primerica, Inc. (PRI), PRU

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
Stocks: PRI, AMP, GNW, MET, PRU, C