Bermuda’s Arch Capital Group Ltd. announced that its offering of 7,475,000 common shares at $25.50 per common share (See IJ Website April 4) resulted in net proceeds of approximately $179 million.
The offering, which closed on Monday, included the exercise in full of the underwriters’ over-allotment option. The company stated that, “the net proceeds of the offering will be used by the company principally to support future growth of its insurance and reinsurance operations.”|”arch, capital, public, offering, raises, $179, million,
Was this article valuable?
Here are more articles you may enjoy.
Why El Niño’s Promise of Quieter Hurricane Season May Not Be Good News for Insurers 
US P/C Industry Books Best Result in a Decade but Not All Lines Enjoy Success 
Mapfre to Acquire Safety Insurance for $1.54 Billion in Cash Deal 
Chubb Q2 Net Income Down 3.8% on ‘Overly Soft’ Large Account, E&S Property 
