Bermuda-based AXIS Capital Holdings Limited announced that it has closed the previously announced public offering of 6,800,000 common shares at $29.42 per share, raising aggregate net proceeds of approximately $200 million.
“Citigroup Corporate and Investment Banking purchased the common shares from AXIS Capital and subsequently reoffered the common shares to public investors,” said the bulletin. “The common shares were offered under AXIS Capital’s Form S-3 shelf registration statement, which was declared effective on October 11, 2005.
AXIS indicated that it “expects to use the proceeds from the sale of its common shares for general corporate purposes, primarily to enhance the funding of its insurance and reinsurance operating subsidiaries.”
Was this article valuable?
Here are more articles you may enjoy.
Howard Hughes Holdings Completes $2.1B Acquisition of Re/insurer Vantage Group 
United Co-Pilot Warned Plane Was Slow, Low Before Newark Mishap 
MMA Alleges Broker Patriot Poached 11 Surety Team Members 
Roof Costs Soar Even as Claims Decline: Verisk 
