Aspen Insurance coverage Holdings has launched its preliminary public providing (IPO) of 11 million Class A abnormal shares, with the aim of elevating as much as $341m.
The shares, priced between $29 and $31 every, are being bought by entities managed by associates of Apollo World Administration.
The underwriters have been granted a 30-day choice to buy an extra 1.65 million shares.
The corporate’s shares have been authorized for itemizing on the New York Inventory Trade (NYSE) below the ticker image AHL, pending official discover of issuance.
Lead book-running managers for the IPO embody Goldman Sachs, Citigroup and Jefferies, with a number of different monetary establishments taking part as book-running managers and co-managers.
Aspen seeks a valuation of as much as $2.85bn by this providing, reported Reuters.
A worldwide specialty insurance coverage and reinsurance underwriter based in 2002, Aspen first went public on the NYSE in 2003 and added a secondary itemizing on the Bermuda Inventory Trade in 2004.
Its shares have been traded on each exchanges till 2019 when Apollo acquired the agency for $2.6bn.
For the quarter ended 31 March 2025, Aspen reported internet written premiums of $751.7m, up from $740.9m in the identical interval of the earlier yr.
The corporate’s internet revenue after revenue tax decreased to $36.8m within the quarter from $111.8m the prior yr.
