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Flood insurance provider Neptune targets $2.8 billion valuation in US IPO

(Reuters) -Neptune Insurance said on Monday it was targeting a valuation of up to 2.76billioninitsU.S.initialpublicoffering,astheIPOmarketcontinuestorunhot.Someexistingshareholdersofthefloodinsuranceprovideraretargetingtoraiseupto2.76 billion in its U.S. initial public offering, as the IPO market continues to run hot. Some existing shareholders of the flood insurance provider are targeting to raise up to 368.4 million by offering 18.4 million shares priced between 18and18 and 20 apiece. The St. Petersburg, Florida-based company joins a growing roster of insurance firms that have tapped public markets since May, with some calling it a "breakout year" ...