Montpelier's Blue Capital Re sets terms for $125 million IPO


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Blue Capital Reinsurance Holdings, a property catastrophe reinsurance company formed by Montpelier Re ( MRH ), announced terms for its IPO on Tuesday. The Pembroke, Bermuda-based company plans to raise $125 million by offering 6.3 million shares at $20 per share. At the midpoint of the proposed range, Blue Capital Re would command a market value of $175 million.

Blue Capital Re, which was founded in 2013, plans to list on the NYSE under the symbol BCRH. The company initially filed confidentially on August 9, 2013. Deutsche Bank, Barclays, Keefe Bruyette Woods, Raymond James, UBS Investment Bank and RBC Capital Markets are the joint bookrunners on the deal.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: News Headlines IPOs
Referenced Stocks: BCRH , MRH

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