NU Online News Service, Sept. 15, 2:48 p.m. EDT

Liberty Mutual Agency Corp. (LMAC) expects to raise about $1.2 billion through an initial public offering, according to a filing with the U.S. Securities and Exchange Commission.

LMAC, a unit of Boston-based Liberty Mutual Group, said it would offer 64.3 million shares for between $18 and $20 per share. If demand is great, up to six million more shares could be offered.

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