Alignment Healthcare Inc., a Medicare Advantage plan provider, went public Friday with an initial public offering that raised about $500 million.
The IPO gave the company as a whole a total market capitalization value, or total stock value, of about $3.3 billion. Shares trade on Nasdaq under the symbol ALHC.
Alignment Healthcare is an Orange, California-based carrier with about 81,500 Medicare Advantage plan enrollees in California, Nevada and North Carolina.
The company reported a net loss for 2020 on $959 million in revenue.
The company says it works with brokers and pays sales commissions.
