Hamilton moves to file for IPO on NYSE
Hamilton Insurance Group, the insurer formed in Bermuda in 2013, has revealed it is looking to list the company on the New York Stock Exchange. The move follows it reviewing its strategic options back in June.
The company has filed a registration statement on Form S-1 with the US Securities and Exchange Commission (SEC), relating to a proposed underwritten initial public offering (IPO) of its common shares. Hamilton intends to apply to list the common shares on the New York Stock Exchange under the ticker symbol HG.
The move follows it submitting a draft registration statement in September. The deal could value the company at more than $2 billion. Its book value in December 2022 was $1.7 billion.
The number of common shares to be offered and the price range for the proposed offering have not yet been determined. The common shares to be offered and sold in the proposed offering are expected to be offered by the Company and certain selling shareholders. The IPO is subject to market and other conditions, the company said.
Barclays and Morgan Stanley are acting as Joint Lead Bookrunning Managers for the proposed offering.