Fidelis Insurance Holdings launches preliminary public providing

Fidelis Insurance Holdings Limited (FIHL), which owns Fidelis Insurance Group, has launched its preliminary public providing of 17 million widespread shares via a prospectus.

In a launch, FIHL stated: “The providing consists of 5,714,286 widespread shares supplied by the corporate and 11,285,714 widespread shares to be offered by sure of the corporate’s present shareholders.

“In addition, the underwriters will have a 30-day option to buy an additional 2,550,000 common shares from the selling shareholders. The IPO price is currently expected to be between US$16 and US$19 per common share.”

Net proceeds from the providing shall be used to make capital contributions to FIHL’s insurance coverage working subsidiaries. The insurance coverage holding firm plans to make the most of the continued price hardening in the important thing markets through which it participates by writing extra enterprise.

Fidelis Insurance Group consists of insurance coverage working subsidiaries Fidelis Insurance Bermuda Limited, Fidelis Underwriting Limited, and Fidelis Insurance Ireland DAC, in addition to service firm FIHL (UK) Services Limited and its Irish department.

MGU HoldCo, which is the holding firm for managing basic underwriting platform Fidelis MGU, is separate from FIHL.

The widespread shares are anticipated to commerce below the ticker image “FIHL” on the New York Stock Exchange.

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