Fidelity & Guaranty Life, a leading provider of fixed indexed annuities (FIAs), is going public. Yesterday, its parent company, Harbinger Group Inc. (HGI), filed a prospectus for a $100 million IPO.
Neither the share price nor the amount of stock to be sold were revealed in the SEC filing. Proceeds will be used to pay an unspecified dividend to HGI and for general corporate purposes. Credit Suisse was listed as the sole underwriter. Harbinger is not a selling shareholder in the offering. There was no indication as to which stock exchange the shares would be traded.