Triple-S Scales Back IPO

Triple-S Scales Back IPO


Puerto Rico's Triple-S Management has priced a smaller than expected $200m IPO through Credit Suisse and UBS. The deal involved 14m shares of its Class B common stock, 5m of which was offered by Triple-S and 9m from selling stockholders, at a price of $14.50. Total net proceeds to Triple-S will be approximately $63.7m, after deducting underwriting discounts and commissions and estimated offering expenses. It will not receive any proceeds from the sale from selling stockholders. According to Deal

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