News Update: Hartford Financial Services Plans To Raise As Much as $2.25 Billion By Selling Shares

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Uploaded by on Mar 18, 2010

3/18/2010- Hartford Financial Services (NYSE:HIG) said it plans to raise as much as $2.25 billion by selling shares to repay the U.S. government rescue, according to a Bloomberg report.

The company will sell about 52.3 million common shares at $27.75 per share and 20 million preferred shares at $25.

The underwriters for the deal are Goldman Sachs (NYSE:GS) and JP Morgan (NYSE:JPM). They have the option to buy as much as 8 million common shares and 3 million preferred shares.

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