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Third Point Reinsurance prices downsized IPO at $12.50, at low end of the range
By: Renaissance Capital
Third Point Reinsurance, a Bermuda-based specialty property and casualty reinsurer, raised $276 million by offering 22.1 million shares at $12.50, at the low end of the range of $12.50 to $14.50. The company had originally planned to offer 22.2 million shares. Third Point Reinsurance plans to list on the NYSE under the symbol TPRE. Third Point Reinsurance initially filed confidentially on 5/14/2013. J.P. Morgan, Credit Suisse, Morgan Stanley, BofA Merrill Lynch and Citi acted as lead managers on the deal.