IPOs
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Qomplx delays its SPAC vote until August 17, as investors revolt against the Hippo and Doma transactions. -
The Validus founders also warned on the dangers of inflation and set out their philosophy on how to execute carrier M&A well.
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The entrepreneur could receive upwards of $500mn of cash proceeds by selling down some of his stake.
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The IPO is imminent now that pricing has been announced in deal that will value the Pat Ryan-led business at up to $5.6bn.
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The stellar growth numbers presage a challenging exercise in managing investor expectations going forward amidst easing tailwinds.
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The Pat Ryan-run wholesale broker said it grew organically by 20% and had $1bn in revenues in 2020.
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The business was founded in 2013 by Hong Kong tycoon Richard Li and has expanded across Asia.
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The wholesaler could have an enterprise value of upwards of $7bn when it goes public.
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Zaffino had said he wanted the deal done by year-end but conceded that the timetable might slip into 2022 depending on regulatory factors and market conditions.
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