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Flood Insurer Neptune Shares Climb 24% After $368 Million US IPO
Insurance Journal·2025-10-02 22:19

Neptune Insurance Holdings Inc. shares jumped 24% after the flood insurance company’s shareholders raised 368.4millioninaUSinitialpublicoffering.SharesoftheSt.Petersburg,Floridabasedfirmclosedat368.4 million in a US initial public offering.Shares of the St. Petersburg, Florida-based firm closed at 24.80 each on Wednesday, versus an IPO price of 20apiece.Theofferingof18.4millionsharesbybackersincludingcofounderJimAlbert,BregalSagemountandFTVCapitalwasmarketedinarangeof20 apiece. The offering of 18.4 million shares by backers including co-founder Jim Albert, Bregal Sagemount and FTV Capital was marketed in a range of 18 to 20each.ThetradinggivesNeptuneamarketvalueofaround20 each. The trading gives Neptune a market value of around 3.4 billion based on the outst ...