Montpelier Re Holdings Ltd. announced that certain of its founding shareholders had sold an aggregate of 4,000,000 common shares of the Company to Morgan Stanley.
“The shares are being sold under the Form S-3 shelf registration statement which was declared effective on February 23rd, 2004,” said the announcment. “Morgan Stanley has offered the shares to the public at a price of $36.25 per share. The selling shareholders are Cypress Merchant B Partners II (Cayman) L.P. and entities associated with it and affiliates of DLJ Merchant Banking Partners III, L.P.”
Montpelier will not sell any common shares in the offering, and all of the net proceeds will be received by the selling shareholders.
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