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NI Holdings - Bet The Farm On This Crop Insurer [Seeking Alpha]

NI HOLDINGS (NODK)  More Company Research Source: Seeking Alpha
US:NASDAQ Investor Relations: niholdingsinc.com
PDF Summary Thesis NI Holdings (NASDAQ: NODK ) is a intermediate holding company which owns 100% of Nodak Insurance Company, formally Nodak Mutual. The company recently completed a private mutual insurance company to a public stock insurance company conversion by selling 45% of its 23M shares to its policyholders, employees, management and the public at $10 per share. The remaining 55% of the shares outstanding are non-economic and owned by Nodak Mutual Group, Inc. which acts as the Mutual Holding Company or MHC. The corporate structure is shown below: Investor enthusiasm for this stock was evidenced by the significant oversubscription to the conversion subscription; $250M worth of stock was requested by investors for the $103M maximum amount of stock offered. The fortunate investors who received the $10 stock from the conversion subscription saw their investment pop 40% on the first tick as the stock began trading around $14 on March 16. At the t [Read more]

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