IPO News Archive
Warburg Pincus to purchase up to $330 million in Citi's Primerica
3/4/10
Citi-owned Primerica, a distributor of term life insurance, mutual funds, variable annuities and other financial products to middle income households, filed an amendment with the SEC filing on Tuesday indicating a private share sale to Warburg Pincus of up to $230 million concurrent with its IPO. Warburg was also granted the option to purchase an additional $100 million in shares at the IPO price. Primerica, which is based in Duluth, GA and was founded in 1977 as A.L. Williams & Associates, initially filed last November to raise $100 million in its IPO; however, we suspect the deal size will increase significantly given the size of the business ($2.2 billion in sales booked in 2009). Though the amendment did not specify Warburg's stake in the company post IPO, it indicates that the New York-based private equity firm will not own more than 35% of the voting power of Primerica's outstanding securities. Citi is the sole underwriter on the deal, for which pricing terms and timing has yet to be disclosed.
Source: www.RenaissanceCapital.com
Latest User Comments
Let''s All Meet Up At The PRIMERICA Message Board. 4/11/2010 1:51:13 PM
Posted by: bigmack
Discuss the stock in whatever way pleases you. Talk it up. Talk it down. Tell everyone what''s on your mind at the Yahoo Message board. Follow this link here:
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Haves and HaveNots 4/9/2010 3:21:09 PM
Posted by: screweda
Once again, a company that claims to be all about their employees has been nothing but a big disappointment to many of those employees with respect to this IPO. Earning trips and all is nice, but not...
HERE''S THE MOST LIKELY SCENARIO FOR PRI 4/6/2010 1:52:02 PM
Posted by: bigmack
Now that its finally gone public, its up to earnings to move this. PRIMERICA associates must prove themselves by beating the streets and getting mom and pop to buy a policy. The more policy holders ...
PRI... PFS Agents get to work 4/5/2010 1:01:14 PM
Posted by: Starttra
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PFS Agents 4/5/2010 12:51:34 PM
Posted by: rstuff54
Those of us that are agents with Primerica must understand that the stock only gets better if we get to work and turn in solid business. We have control of our stock and we all override eachother now...