Local Web Health Insurance Company Is A Wallstreet Hit

The Associated Press

Shares of Health Insurance Innovations are rising on their first trading day after an initial public offering raised more than $65 million for the Web-based coverage provider.

The stock is up 21 cents to $14.21 in midmorning trading while the broader markets are also rising.

The Tampa, Fla., company had priced 4.7 million shares at $14 each, or the low end of its expected range of $14 to $16. Banks managing the IPO can buy another 700,000 shares if there’s demand for the stock, which would add to the deal’s proceeds.

Health Insurance Innovations Inc. sells individual, 12-month short-term medical coverage and dental and vision plans. It works with carriers like ING and Cigna Corp.

The stock trades under the “HIIQ” ticker symbol on the Nasdaq Global Market.

Copyright 2013 The Associated Press.

 

 

Comments

Leave a Reply

Please log in using one of these methods to post your comment:

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More From CBS Tampa

Best Holiday Volunteer Opportunities for the Family in Tampa BayGet the family together to make a difference in the Tampa Bay community this holiday season.
CBS Tampa’s Social Media LinksFollow us!
%d bloggers like this:

Listen Live