Fidelis Insurance Holdings, a global provider of specialty insurance and property reinsurance, raised $210 million by offering 15 million shares (52% secondary) at $14, below the range of $16 to $19. The offering contained 2 million fewer shares than anticipated.
Fidelis provides specialty insurance and property reinsurance, with operations in Bermuda, Ireland, and the UK. The company completed its initial funding and began underwriting business in 2015. In January 2023, Fidelis' operations were split into two distinct holding companies: FIHL, Current Fidelis' parent, and MGU HoldCo, the holding company for the managing general underwriting platform that carries on Current Fidelis' origination and underwriting activities.
Fidelis Insurance Holdings plans to list on the NYSE under the symbol FIHL. J.P. Morgan, Barclays, Jefferies, Keefe Bruyette Woods, BMO Capital Markets, Citi, and UBS Investment Bank acted as joint bookrunners on the deal.
