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With the IPO market playing host to some solid insurance company offerings, investors may be enticed to give Scottish Annuity & Life Holdings a close look.
Through a Prudential Securities-led syndicate, 16.75 million ordinary shares are expected to be offered at $15 a share next week. After the offering, the proceeds of which will support insurance activities, there will be 18.57 million shares outstanding. The stock is slated to trade on Nasdaq under the symbol SCLTF.
The Cayman Islands-based firm was formed as an offshore company principally to provide customized variable life insurance products to wealthy...