Economical Insurance IPO: When can you buy the Canadian firm’s stock?

3 min read | September 09, 2021 07:56 AM EDT | By Raza Naqvi

Economical Insurance IPO: When can you buy the Canadian firm’s stock? — Image source: Maks_Lab, Shutterstock.com

Economical Insurance – All you need to know

Established in 1871, Economical Insurance offers car, business, home and farm related insurance services. In May 2021, the insurance company had received majority support from eligible policyholders for the demutualization process.

According to Economical Insurance’s website, 97 per cent of around 630,000 eligible policyholders were in favour of demutualization.

As the majority vote supports demutualization, it is expected to transition from being held by mutual policyholders to trade publicly.

Also Read: WHOOP IPO: How to buy this $3.6B company’s stock?

Reports suggest that the insurance company could be valued at up to C$ 1.9 billion at the time of IPO.

How to buy Economical Insurance stock?

As a timeline for Economical Insurance’ IPO has not been confirmed yet, interested investors may have to wait for a while before they can look into its stocks.

Notably, the insurance company is expected to make its public debut soon as IPOs have been high in demand this year.

Economical Insurance is likely to list its shares on the Toronto Stock Exchange. If and when the IPO happens, brokerage companies could be an option where investors can explore its pre-IPO shares.

Bottom line

Pre-IPO shares are often explored in the hopes of high returns, but it is crucial to keep in mind that stock prices often drop at the time of their public debut. So, it is important to study the company and its growth prospects as these details matter in stock selection.

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