- The Washington Times - Tuesday, April 14, 2009

JACKSONVILLE, FLA. (AP) - Title insurance provider Fidelity National Financial Inc. said Tuesday it has increased the size of its planned public offering to 15.8 million shares, and priced it at $19 each.

The offer price represents a slight discount to Tuesday’s closing price of $19.30. The stock lost nearly 15 percent during the day’s session after the initial offer was announced. On Monday, shares had finished at $22.60 _ nearly their highest point in a year.

Proceeds from the offering will be used to repay debt under an existing $1.1 billion syndicated credit agreement and for other general corporate purposes.

Fidelity also expanded the amount underwriters will be permitted to buy to cover over-allotments to nearly 2.4 million. The company had announced earlier Tuesday it planned to offer 13.3 million shares and that underwriters would have the option to buy up to 2 million additional shares.

JPMorgan Securities Inc. and Goldman, Sachs & Co. are the joint book-running managers, with Barclays Capital Inc., Keefe, Bruyette & Woods, Inc., Piper Jaffray & Co. and Stephens Inc. serving as co-managers.

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