Primerica, Inc. Celebrates IPO, First Day of Trading on NYSE
• NYSE Euronext #1 in U.S. IPO Proceeds in 2010 To Date, Extending Its Lead from 2009•
NEW YORK, April 1, 2010 – Primerica, Inc. today opened for trading on the New York Stock Exchange under the ticker symbol “PRI” after its successful IPO in which it raised $320 million in gross proceeds.
Primerica, based inDuluth, GA. , is a leading distributor of financial products to middle income households in North America , with approximately 100,000 licensed sales representatives who assist clients in meeting their needs for term life insurance, which Primerica underwrites, as well as mutual funds, variable annuities, loans and other financial products.
“We are thrilled to welcome Primerica, a household name in financial services, to join our community of listed companies,” said Scott Cutler, VP and co-Head of U.S. Listings and Cash Executions, NYSE Euronext. “We look forward to a beneficial and lasting partnership with the company and its associates.”
To celebrate today’s special occasion, John Addison and Rick Williams, co-Chief Executive Officers, Primerica joined by company executives and Primerica representatives from around the country, ring today’s Closing Bell.
“This is an exciting and historic day for our company,” said John Addison. Today would not be possible without the hard work and dedication of our 100,000 independent representatives across North America and our 2,000 dedicated employees.”
“Becoming a public company is an opportunity to align the interests of our independent sales force and our employees with our future performance,” said Rick Williams.
So far in 2010, the 16 IPOs on the NYSE have raised more than $3.0 billion, about three times as much as IPOs raised on Nasdaq in 2010 to date.
About Primerica, Inc. (NYSE: PRI)
Primerica, a leading distributor of financial products to middle income households in North America , has approximately 100,000 licensed sales representatives who assist clients in meeting their needs for term life insurance, which Primerica underwrites, as well as mutual funds, variable annuities, loans and other financial products. Primerica representatives focus on reaching the underserved middle-income market.
Primerica, headquartered in Duluth, GA., insures 4.3 million lives and more than two million clients maintain investment accounts with the company. Primerica’s mission is to serve middle income families by helping them make informed financial decisions and providing them with the strategies and means to gain financial independence.
About NYSE Euronext
NYSE Euronext (NYX) is a leading global operator of financial markets and provider of innovative trading technologies. The company's exchanges in Europe and the United States trade equities, futures, options, fixed-income and exchange-traded products. With more than 3,700 listed operating companies, NYSE Euronext's equities markets – the New York Stock Exchange, NYSE Euronext, NYSE Amex, NYSE Alternext and NYSE Arca – represent one-third of the world's equities trading, the most liquidity of any global exchange group. NYSE Euronext also operates NYSE Liffe, one of the leading European derivatives businesses and the world's second-largest derivatives business by value of trading. The company offers comprehensive commercial technology, connectivity and market data products and services through NYSE Technologies. NYSE Euronext is in the S&P 500 index, and is the only exchange operator in the S&P 100 index and Fortune 500. For more information, please visit: http://www.nyx.com.
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