As requested,
On 09/15/2022 Corebridge Financials will begin trading on NYSE under the ticker CRGB. They are seeking to raise $1.8B through the sale of 80 million shares. The ballpark price should be between $21-$24 per share. CRGB will be a controlled company with AIG retaining 77% ownership and Blackstone owning 9.9% (they are fronting $2.2B to be part of the deal).
I have attached a link to the S-1 and you really should read at least the introduction.
https://www.sec.gov/Archives/edgar/data/1889539/000114036122032377/ny20001795x14_s1a.htm
They intend to offer a $0.23 quarterly dividend, so if you buy at the IPO price it will only take around 25 years to have free stock!
Honestly the biggest selling point for this IPO is they are a profitable segment of AIG with established business in personal and group life insurance and retirement management. The group life and retirement segments seem to focus mostly on municipal entities, school districts, government funds and the like.
I don’t know if anyone wants to try and buy at IPO, it seems like the macro environment could be pretty tough for all segments of the stock market now and into the foreseeable future but CRGB is definitely “worth watching”.
Those of you with more experience into IPOs please take a look and share your thoughts.
Thanks! Good Luck!