United National Files For IPO
NU Online News Service, Sept. 18, 4:18 p.m. EDT?Surplus lines insurer United National Group, Ltd. announced yesterday that it plans an initial public offering and will use the proceeds from the offering to redeem its preferred shares.
Last week 80 percent of United National was acquired by Fox Paine & Co., the San Francisco investment fund management company for $240 million. A 20 percent interest was retained by the former owners of United National.
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