Hamilton Insurance Group reveals plan for initial public offering
Hamilton Insurance Group reveals plan for initial public offering | Insurance Business New Zealand
Mergers & Acquisitions
Hamilton Insurance Group reveals plan for initial public offering
Morgan Stanley, Barclays acting as joint lead bookrunning managers
Mergers & Acquisitions
By
Terry Gangcuangco
Hamilton Insurance Group has commenced its move for the initial public offering of its common shares, filing a registration statement on Form S-1 with the US Securities and Exchange Commission (SEC).
In a release, the Bermuda-headquartered (re)insurer said: “Hamilton intends to apply to list the common shares on the New York Stock Exchange under the ticker symbol ‘HG’.
“The number of common shares to be offered and the price range for the proposed offering have not yet been determined. The common shares to be offered and sold in the proposed offering are expected to be offered by the company and certain selling shareholders.”
Subject to market and other conditions, the IPO will be made by means of a prospectus. Acting as joint lead bookrunning managers are Barclays and Morgan Stanley.
“A registration statement relating to the common shares has been filed with the SEC but has not yet become effective,” Hamilton noted. “The common shares may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective.”
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