Travelers Sets Stage For Further IPOs
Travelers, welcome back! Investors in insurance stocks have missed the opportunity to own and trade in the shares of this venerable Connecticut Yankee, established in 1863, since Citigroup took the company private two years ago.
Last month, Travelers distributed 210 million shares via an initial public offering at $18.50 a share. This works out to be the biggest U.S. insurance IPO ever, with a value close to $4 billion.
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