Brief: Hallmark Financial Announces Intent To Pursue IPO Of Specialty Commercial Business

Hallmark Financial Services

13/04/2021 23:17

April 13 (Reuters) - Hallmark Financial Services Inc
 HALL.O :
    * HALLMARK FINANCIAL ANNOUNCES INTENT TO PURSUE IPO OF ITS
SPECIALTY COMMERCIAL BUSINESS
    * HALLMARK FINANCIAL SERVICES - HALLMARK SPECIALTY GROUP
OFFERED
SHARES EXPECTED TO REPRESENT ECONOMIC OWNERSHIP STAKE OF
APPROXIMATELY 50%
    * HALLMARK FINANCIAL SERVICES INC - INTENDS TO RETAIN AT
LEAST A
MAJORITY OF COMBINED VOTING POWER OF HALLMARK SPECIALTY GROUP'S
SHARES
    * HALLMARK FINANCIAL SERVICES INC - HALLMARK FINANCIAL
EXPECTS TO
COMPLETE IPO PROCESS DURING Q3 OF 2021
    * HALLMARK FINANCIAL - CURRENTLY HAS NO INTENTION OF
SPINNING OFF
OR OTHERWISE DIVESTING OWNERSHIP INTEREST IN HALLMARK SPECIALTY
GROUP AFTER IPO
    * HALLMARK FINANCIAL - PLANS TO PURSUE IPO OF
NON-CONTROLLING
OWNERSHIP STAKE IN CORE BUSINESSES WITHIN CO'S SPECIALTY
COMMERCIAL BUSINESS SEGMENT

Source text for Eikon:  ID:nGNX7NstyT 
Further company coverage:  HALL.O 

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