Genworth Financial said its parent company, General Electric, would sell 80 million shares of its interest in the Richmond, Va.-based insurer, as it continues to decrease its interest in the spin-off.
In its announcement this week, the company priced the offering of its Class A common stock at $29.50 per share.
The sale would result in GE retaining between 27 percent and 30 percent interest in the carrier, depending upon the purchase of stock.
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