Fidelis raises $89.4mn from underwhelming IPO
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Fidelis raises $89.4mn from underwhelming IPO

fidelis insurance group logo Nasdaq Times Square.jpg

Fidelis Insurance Holdings has raised net proceeds of approximately $89.4mn from its initial public offering, under which shares began trading on the New York Stock Exchange on June 29.

The company plans to use the proceeds to make capital contributions to its insurance operating subsidiaries, which should enable it to “take advantage of the ongoing rate hardening in the key markets in which it participates by writing more...

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