MBIA’s Largest Shareholder, Warburg Pincus, Plans Stake Cut
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Warburg Pincus LLC, the largest holder of MBIA Inc.’s stock, will reduce its stake by more than half, according to a statement from the bond insurer on Monday.
MBIA said Warburg would sell 27.3 million shares in a registered public offering, leaving it with 18.4 million. MBIA’s National Public Finance Guarantee Corp. will buy 8 million of those shares from underwriter BTIG LLC, according to the statement.