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Anthem boosts IPO size
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October 29, 2001: 4:07 p.m. ET
Week's biggest issue increases IPO size to 48M shares at $30 to $37.
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NEW YORK (CNNmoney) - Insurance firm Anthem Inc. Monday boosted the size of its initial public offering which could now raise as much as $1.8 billion.
Anthem, the week's first and biggest IPO, plans to sell 48 million shares, up from a previously planned 40 million, at $33 to $37 each, via Goldman Sachs. Underwriters on the deal have a "green shoe" over-allotment option to buy another 6 million shares.
Anthem will trade Tuesday under the New York Stock Exchange symbol "ATH." The insurer is expected to price its IPO later Monday, underwriters on the deal said.
Indianapolis-based Anthem, one of the nation's largest benefits firms, is the latest insurer to tap the equity markets. John Hancock (JHF: down $0.23 to $35.63, Research, Estimates) went public last year and Prudential Financial Inc. plans to go public sometime in November.
Anthem offers health insurance and services to more than seven million customers under the Blue Cross/Blue Shield names. Anthem targets customers in Indiana, Kentucky, Ohio, Connecticut, New Hampshire, Maine, Colorado and Nevada.
Anthem Inc. will operate as a holding company for Anthem Insurance which is converting from a mutual insurance company to a stock insurance company.
Anthem had nearly $5 billion in unaudited revenue on $143 million in income from continuing operations for the six months ended June 30, the company said in an SEC filing. 
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