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 programEven 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.
. 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”