Holdings Ltd. has registered $97.75 million of stock for sale in a secondary offering.

While the company did not say how many shares would be sold in the offering, it estimated that shareholders may sell as much as $97.75 million of stock through two offerings, one in the US and Canada and another in other countries. Shareholders will receive proceeds from the offerings and not the company.

Smith Barney Inc.; Lazard Freres & Co. LLC; and Morgan Stanley & Co. Inc. will underwrite the offering, according to the S-1 registration statement filed filed on Friday with the Securities and Exchange Commission.

The company's stock rose 5/8 on Friday to close at a 52-week high of 27 1/2.

LaSalle Re announced plans earlier this month to distribute between 50 and 60 percent of the previous year's net operating earnings to shareholders.

The move is aimed at better managing the company's capital and could also see it repurchasing commons shares from time to time, LaSalle said in a statement.