Aspen Insurance Holdings plans to add 2.6 mn ordinary shares to its initial public offering at a price of $30 per share, totaling $77.6 mn.
This update covers only the additional shares, including 337,500 shares subject to the underwriters’ purchase option.
It does not include the 12.7 mn shares listed in the original IPO filing, according to Aspen’s submission to the U.S. Securities and Exchange Commission.
Previously, Aspen announced an IPO of 11 mn Class A ordinary shares on the New York Stock Exchange under the symbol “AHL,” with an estimated value of up to $341 mn. The underwriters may also purchase an additional 1.7 mn shares under the initial prospectus.
Aspen indicated the offering price per share would range from $29 to $31, placing the estimated value of the IPO between $319 mn and $341 mn.
Including the underwriters’ option, the projected value increases to between $366.9 mn and $392.2 mn.
The shares are being sold by entities managed by affiliates of Apollo Global Management Inc. The selling shareholders have given the underwriters a 30-day option to acquire up to 1.65 mn additional ordinary shares.
