Friday, February 08, 2013 11:21 am
Health Insurance Innovations stock climbs in debut
By The Associated Press
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.