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Falcone’s Fidelity & Guaranty Prices IPO at Low End of Range

Bloomberg – Fidelity & Guaranty Life, the insurer controlled by billionaire Philip Falcone’s Harbinger Group Inc., raised $165.75 million in its initial public offering, pricing the shares at the low end of the range.

Fidelity sold 9.75 million shares for $17 apiece, according to a statement yesterday, after offering them for $17 to $19. The sale of a 17 percent stake values the company at $965 million.

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