James River floats below share price expectations

Bermuda-domiciled (re)insurer James River completed its IPO on
Friday (12 December), with the share price settling below
forecasts.
The excess and surplus lines insurer anticipated an initial
price of $22 to $24 per share, but floated on the Nasdaq Global
Select Market at $21.
The company sold 11 million common shares in the offering and
raised $231mn of capital, falling short its $242mn-$264mn
forecast.
The (re)insurer has been approved to list its common shares on
the Nasdaq index under the...