IPO News

Japan Post’s IPO Fully Subscribed After Two Days; at Least $10B to Be Raised

Japan’s government received orders for all the shares it’s offering in Japan Post Holdings Co. and its banking and insurance units after the first two days of bookbuilding, people with knowledge of the matter said. Investor orders through Oct. 9 …

China Re Will Sell Almost Half of $2B IPO to Cornerstone Investors

China Reinsurance (Group) Corp., the nation’s biggest reinsurer, will sell about half of its as much as $2 billion Hong Kong initial public offering to cornerstone investors. U.S.-based Prudential Financial Inc., China Life Insurance Co. and Macau casino executive Pansy …

Japan Post’s IPO Listings – Which Include Insurer Unit – Could Raise Nearly $12B

State-owned Japan Post on Wednesday set indicative price ranges for a trio of initial public offerings in what it hopes to make a ‘must-have’, $12 billion privatization, Japan’s biggest in three decades. In IPOs set for Nov. 4 squarely targeted …

IRB Brasil Postpones IPO Amid Stock Market Turmoil: Reuters

IRB Brasil RE, the country’s biggest reinsurer, postponed its initial public offering amid market turmoil, Reuters reported, citing unidentified people with knowledge of the matter. Investment banks managing the sale found it unfeasible to proceed, Reuters said. The government expected …

Brazil Insurer Caixa Seguridade, Reinsurer IRB Plan IPOs to Raise $3.6 Billion

Brazilian insurer Caixa Seguridade Participações SA and reinsurer IRB Brasil RE SA on Tuesday filed plans for initial public offerings that their shareholders expect to raise a combined 13 billion reais ($3.6 billion) should an across-the-board market rout ease in …

Brazil Weighs Sale of Some of Its Stake in IRB in $1.3B Reinsurer IPO: Sources

Brazil’s government is considering the sale of some of its stake in IRB-Brasil Resseguros SA, the largest reinsurer in Latin America, in a 4 billion-real ($1.3 billion) initial public offering, two people with direct knowledge of the matter said. In …

Hastings Weighs IPO as U.K. Car Insurer Gains Market Share

Hastings Insurance Group increased its customer base by 20 percent in 2014, boosting profitability and setting the U.K. car insurer on track for a potential initial public offering this year. Hastings, which generates 90 percent of its business from price-comparison …

IRB Brasil RE Seeks to More Aggressive Growth in Latam, Africa; Weighs IPO

IRB Brasil RE plans to grow more aggressively in Latin America and Africa as part of an expansion that may require Brazil’s largest reinsurer to seek an initial public offering or tap an outside partner before 2018, Chief Executive Officer …

Insurer Plans IPO Despite Not Making Profit Yet

NMI Holdings Inc., the mortgage guarantor backed by Kyle Bass, Carlyle Group LP and BlueMountain Capital Management LLC, is seeking to be the first U.S. insurer since 2009 to file an initial public offering without posting a profit, as demand …

Brazil Insurer Continues Outperforming After World’s Largest IPO

BB Seguridade SA, the Brazilian insurer that held the world’s largest initial public offering this year, is outperforming every other IPO from an emerging- market financial company this year. The rally isn’t over yet, according to a survey of analysts. …