Business Services Industry
Late News; Lloyd's consolidator postpones IPO.(Capital Insurance Holdings, financial incentives to workers in California to sue their employers for any labor code violations, Smith and Wesson Corp. sues American International Group Inc.)
Business Insurance, August, 2004
The planned initial public offering of Capital Insurance Holdings, a company aimed at consolidating smaller listed Lloyd's of London companies, has been postponed. Sources said the IPO, originally slated for Aug. 2, will be restructured and relaunched in September. The listing floundered despite strong backing from investors in the United States, sources said, because there was insufficient support from U.K.
investors. The company had expected to attract u125 million ($228.8 million) from institutional shareholders, and Berkshire Hathaway Inc. had pledged to take a 25% stake. California modifies `sue your boss' law California legislators approved a measure that significantly modifies the state's "sue your boss'' law, which went into effect in January. The...
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