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Imperial Holdings sees max USD287.5m in IPO proceeds

 

Friday, Aug 13,2010, 9:23:27 PM   Click:

13 August 2010 - Specialty finance firm Imperial Holdings Inc yesterday applied with the US securities watchdog to raise maximum USD287.5m (EUR223.5m) in an initial public offering (IPO) of common stock, Reuters reported.

The company has picked FBR Capital Markets to underwrite its IPO.

Imperial Holdings, which offers premium financing for individual life insurance covers, opted for the listing after it failed to secure debt financing. It intends to use the net proceeds for general corporate needs.

The company's stock is expected to be listed on the New York Stock Exchange under the ticker symbol IFT.

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