Deals
Brighthouse Valued at $7.5 Billion in Debut After Spinoff
- Trading begins for shares of unit that MetLife is spinning off
- New company seen positioned to gain from higher interest rates
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Brighthouse Financial Inc. was valued at about $7.5 billion in its trading debut after being spun off from MetLife Inc.
The stock changed hands for $61.45 at 10:32 a.m. in New York. There are about 122.7 million shares in Charlotte, North Carolina-based Brighthouse, with MetLife holding less than 20 percent after distributing a majority stake to its investors on Aug. 4.