Pac Rim Holding Will Try Public Offering Again

Pac Rim Holding Corp., an Encino provider of workers’ compensation insurance in California, says it will try again to go public with an initial offering of 2.75 million shares of common stock.

Pac Rim, whose main operating unit is Pac Rim Assurance Co., initially planned to go public last summer with an offer of 2.5 million shares. But Pac Rim chose not to make the offering due to a slide in the stock market that lasted until November.

The company, which plans to use proceeds from the sale to expand its business, said the offering is being managed by Salomon Bros. and Wedbush Morgan Securities.