James River group Holdings Ltd, a Bermuda-primarily based
coverage conserving agency, filed for an preliminary public offering of not
unusual stocks that could improve as much as $288 million.
Hedge fund D.E. Shaw & Co LP’s affiliates very own 72.6
percentage of the insurer’s elegance A not unusual stocks, whilst Goldman Sachs
organization Inc. owns 26.3 percentage.
James River had first long gone public in August 2005, less
than 3 weeks before hurricane Katrina struck the U.S. Gulf coast.
D. E. Shaw institution bought the organization for $575
million in coins in June 2007.
James River owns a set of casualty insurance and reinsurance
businesses running normally within the u.s.a..
Richmond, Virginia-based commercial enterprise insurer James
River insurance is its biggest subsidiary as measured via gross written
charges.
James River institution’s revenue rose about 2.7 percentage
to $206.5 million in the six months ended June 30 from a 12 months in advance.
The organization’s internet income fell to $18.7 million from $28.1 million.
Keefe Bruyette & Woods, u.s.a.investment financial
institution, FBR Capital Markets and BMO Capital Markets are the lead
underwriters for the imparting, James River stated in a regulatory filing.
The enterprise said it plans to listing its common stock on
the Nasdaq beneath the image “JRVR.”
The filing did now not monitor how many stocks were
predicted to be sold inside the supplying or their expected rate.
James River said its selling shareholders will get hold of
all the proceeds from this imparting.
the amount of money a agency says its IPO plans to raise in
its first IPO filings is used to calculate registration expenses. The final
length of the IPO might be different.
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