Lancashire to raise £287m in anticipation of accelerated hard market return
Lancashire will look to raise £287m through the placing 39.6 million new shares, representing 19.5% of the company’s existing issued share capital, in order to take advantage of a return to hard market conditions.
It follows equity raises by fellow London-listed insurers Hiscox and Beazley, which respectively raised £375m and £247m from the issuing of shares worth 19.99% and 15% of their pre-existing share
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