This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Liberty Mutual Files $1.2B IPO

NEW YORK ( TheStreet) -- Liberty Mutual has filed paperwork with the Securities Exchange Commission to take its agency public. The S-1 filing says the insurer plans to sell over 64 million shares at $18 and $20 per share.

"This will be the biggest IPO of the year," Scott Sweet, senior managing partner at IPO Boutique told The Street. "This is a good move for Liberty Mutual."

Liberty Mutual's agency is made up of independent agents and brokers that distribute the property and casualty insurer's products. Shareholders will own about 20% of the company under the IPO and Liberty Mutual would retain an 80% stake in the company.

Liberty Mutual Agency would file on the Nasdaq under the symbol "LMAC." The IPO could bring in $1.17 billion for the insurer that would be used to pay down debt, including $130 million from its acquisition of 2007 purchase of insurer Ohio Casualty.

This IPO will essentially differentiate Liberty Mutual from other public and private insurers such as Allstate ( ALL) and Travelers (TRV - Get Report), said Sweet.

"If it goes off -- and based on the interest I believe it will -- this will be a success," Sweet said. "Liberty Mutual is also likely to use the money to make acretive acquisitions, especially of hard hit companies."

--Written by Maria Woehr in New York.

To contact the writer of this article, click here: Maria Woehr.

To follow the writer on Twitter, go to

To submit a news tip, send an email to:

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
ALL $64.95 -0.85%
TRV $109.13 -0.37%
AAPL $95.03 -2.90%
FB $116.73 7.20%
GOOG $691.02 -2.10%


Chart of I:DJI
DOW 17,830.76 -210.79 -1.17%
S&P 500 2,075.81 -19.34 -0.92%
NASDAQ 4,805.2910 -57.85 -1.19%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs