Kingsway to offer shares in U.S.

Specialty insurer Kingsway Financial (TSX, NYSE:KFS) has applied to make an offering of trust preferred shares on the U.S. exchange.
The offering could bring in US$50 million, plus over-allottment.
Kingsway had planned an offering on both the U.S. and Canadian shares earlier this year, but withdrew the offering saying at the time that the company did not feel its share price adequately reflected value.
The offering will be handled by underwriters including Advest, Inc., Ferris, Baker Watts Inc., Keefe, Bruyette & Woods, Inc., Raymond James, Sandler O’Neill & Partners, L.P. and Putnam Lovell Securities Inc. and offered under the symbol KFS PrA on the New York Exchange.
The offering is subject to approval by the U.S. Securities Exchange Commission.