Close Close
Popular Financial Topics Discover relevant content from across the suite of ALM legal publications From the Industry More content from ThinkAdvisor and select sponsors Investment Advisor Issue Gallery Read digital editions of Investment Advisor Magazine Tax Facts Get clear, current, and reliable answers to pressing tax questions
Luminaries Awards

Life Health > Life Insurance

Citigroup Prices Primerica Shares

Your article was successfully shared with the contacts you provided.

A unit of Citigroup Inc. is asking $22.75 per share for 12 million shares of Primerica Inc. common stock.

The unit of Citigroup, New York (NYSE:C), is also giving the offering underwriters an option to buy up to 1.8 million additional shares issued by Primerica, Duluth, Ga. (NYSE:PRI).

Citigroup acquired Primerica in 1988, then spun it off by holding a public offering in April 2010. After the April 2010 offering, Citigroup still controlled more than 30% of Primerica’s common stock.

When the current offering is completed, Citigroup will own about 20.7% to 23.1% of Primerica’s common stock, according to Primerica.