Triple-S Management Corp. today raised about $64 million in net proceeds by selling 5 million shares of stock to the public.
Triple-S, San Juan, Puerto Rico, a company that owns the Blue Cross and Blue Shield licensee and other insurance carriers in Puerto Rico, priced the stock at $14.50 per share.
In addition to the 5 million shares that Triple-S itself owned, Triple-S also arranged for the sale of 9 million shares of Triple-S stock held by other parties.
Triple-S stock now trades on the New York Stock Exchange under the symbol GTS.
Triple-S provides or administers health coverage for 1 million people.
Earlier, Triple-S had suggested that the initial public offering price for its stock might be $16 to $18 per share.