HALL - Hallmark Financial discontinues IPO pursuit of specialty commercial unit

Hallmark Financial (NASDAQ:HALL) is no longer actively pursuing the previously announced separation of its Specialty Commercial business segment. As a result, the company will not proceed with the initial public offering of the specialty commercial business. Meanwhile, "Hallmark and its subsidiaries are well positioned to benefit from current donditions in the insurance market, including a continuing favorable pricing environment," said Hallmark Executive Chairman, President and CEO Mark Schwarz. Shares of HALL rise 1.3% intra-day. previously, (January 21) Hallmark explored the separation of its Specialty Commercial business.

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Hallmark Financial discontinues IPO pursuit of specialty commercial unit