James River sets sights on $685mn valuation in IPO

James River is hoping to secure a valuation of up to $685mn in its
planned initial public offering (IPO) on the Nasdaq exchange, the
Bermuda-domiciled excess & surplus lines insurer has disclosed.
In a S1/A document filed yesterday (2 December), James River
said that it would offer 11 million common shares at an estimated
price range of between $22.00 and $24.00 per share, which could
potentially raise $242mn to $264mn of capital.
Multiplied by the company's 28.54 million of common...