ACE Ltd. announced that it has agreed to sell 11 million shares through a public offering, raising approximately $359.5 million.
“Banc of America Securities LLC acted as the sole underwriter in the offering. The proceeds from the offering initially will be invested in investment-grade marketable securities which will be used to support ACE’s guaranty of a subsidiary’s trust preferred securities. Upon repayment of these preferred securities, the proceeds will be used for general corporate purposes,” said the announcement.
Was this article valuable?
Here are more articles you may enjoy.
FTC, States Allege Toast Software Burns Restaurants and Consumers 
Two Dead at Tampa Office After Man Drove Car into Building and Started Shooting 
Pennsylvania Public Adjuster Law Adds Cap on Fees, Bans Ties With Contractors 
Allstate’s AI Ecosystem to Include a Personal Agentic Assistant for Customers 
