Safety, Income And Growth Files For IPO To Raise Up To $215.3 Million

By Tomi Kilgore Markets MarketWatch Pulse

Safety, Income and Growth filed Tuesday for an initial public offering of 10.25 million shares to raise up to $215.3 million. The commercial real estate company, which intends to qualify as a real estate investment trust, expects the IPO to price between $19 and $21 a share. The stock will trade on the New York Stock Exchange under the ticker symbol "SAFE." At the time of the IPO, the company said it will sell $45 million worth of its shares in a private placement to iStar Inc. at the IPO price, which will give iStar a 27.6% stake in the company. Bank of America Merrill Lynch, J.P. Morgan and Barclays are the lead underwriters of the offering.

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