Scottish Re Group Ltd. says it expects to sell more than 10 million shares of stock through 3 transactions that could raise a total of about $250 million.[@@]
Scottish Re, Hamilton, Bermuda, will be offering 6 million new ordinary shares and offering 3.15 million ordinary shares “in connection with forward sale agreements.”
The underwriters have the right to buy another 1.3725 million ordinary shares.
Bear, Stearns & Co Inc., New York, and Lehman Brothers Inc., New York, are managing the offering.