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Flood insurer Neptune launches US IPO

Neptune Insurance Holdings has launched its US initial public offering (IPO) with the intention of raising up to 368.4m.TheIPOisexpectedtobepricedbetween368.4m. The IPO is expected to be priced between 18 and 20persharebyoffering18.42millionshares.Theinsurerisseekingavaluationofupto20 per share by offering 18.42 million shares. The insurer is seeking a valuation of up to 2.76bn in the offering, reported Reuters. Earlier this month, the company filed a registration statement with the US Securities and Exchange Commission to list on the New York Stock Exchange (NYSE) under the ticker symbol 'NP'. The selling sec ...