American Equity Investment Life Holding Company says it plans to sell 13 million shares of common stock to the public and give the offering underwriters a chance to sell another 1.95 million shares.[@@]
American Equity, West Des Moines, Iowa, is a major player in the equity-indexed annuity market.
At current stock prices, the proposed deal could raise a total of about $170 million.
Raymond James & Associates Inc., Tampa, Fla., will be managing the offering.