Stewart Increases Capital via Stock Offering

​Stewart Information Services Corporation (NYSE: STC) last month announced a public offering of 1,900,000 shares of its common stock, at a price of $68.00 per share.

The underwriters for the offering have a 30-day option to purchase up to an additional 285,000 shares of Stewart's common stock at the price to the public, less underwriting discounts and commissions. The gross proceeds from the offering, before deducting underwriting discounts and commissions and other offering expenses payable by Stewart, were expected to be approximately $129.2 million (or $148.6 million if the underwriters exercise their option to purchase the additional shares in full). Earlier, in November, Stewart announced that SISCO Holdings LLC, wholly owned by Stewart Information Services Corporation, was acquiring the mortgage service division of property preservation provider Mortgage Contracting Services.