Security Capital sets $500m IPO terms
Security Capital Assurance, the credit (re)insurer being spun off from Bermudian (re)insurer XL Insurance, has announced the terms of its impending New York Stock Exchange IPO.
The firm said it is offering up to 24,692,501 shares at a guide price of between $21 and $23 each, grossing maximum proceeds of $567,922,523.
The offer includes an over-allotment option of 2,244,773
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