** Shares of F&G Annuities & Life Inc FG.N down 11% at $38.04, over 7-mth low, early Thurs after co disclosed planned equity offering
** Des Moines, Iowa-based insurer late Weds said it would sell 8 mln shares, per the SEC prospectus filing
** Co to use net offering proceeds for general purposes, including support of organic growth opportunities
** Fidelity National Financial FNF.N indicated to buy 4.5 mln shares of the offering, which would boost its ownership to ~110.9 mln shares, or 82% stake
** Post offering, F&G would have ~134.77 mln shares outstanding
** BofA and JP Morgan are jt bookrunners
** Jacksonville, Florida-based P&C insurer Fidelity National spun off F&G in Dec 2022
** FG shares are very thinly traded. Just ~78k shares have changed hands so far on Thurs vs stock's 90-day avg volume of ~71k, per LSEG data
** With move on the session, stock off ~8% YTD
(Lance Tupper is a Reuters market analyst. The views expressed are his own)
((lance.tupper@tr.com 1-646-279-6380))
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