NEW YORK (
) -- Insurer
is expected to be the first initial public offering of 2010. The company, which Warren Buffett's
owns a 26.3% stake in, hopes to raise about $351 million this week.
Symetra is looking to sell shares between $12 and $14 each.
Symetra sells life insurance, medical insurance, retirement products and underwriting services. This is Symetra's second go at an IPO. Symetra originally planned on going public in November 2007, but backed out due to the obvious economic turmoil of the time.
Berkshire Hathaway and
White Mountain Insurance
, which also owns a 26.3% stake, do not plan on selling any of their shares in the IPO. But the two groups originally planned to shed their shares back in 2007.
Elsewhere in the IPO marker, five other companies --
Andatee China Marine Fuel Services
Chesapeake Lodging Trust
-- are also expected to go public this week.
-- Reported by Jeanine Poggi in New York.
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