Printed from BusinessInsurance.com

Validus IPO raises $314 million

Posted On: Jul. 31, 2007 12:00 AM CST

HAMILTON, Bermuda--Validus Holdings Ltd. netted $314 million through its initial public offering last week.

Hamilton, Bermuda-based Validus' IPO closed Monday after offering 15.2 million common shares at $22 per share, the company said in a statement.

Validus plans to use proceeds to repay debt, capitalize its reinsurance operating unit Validus Reinsurance Ltd. and fund part of its recent acquisition of Talbot Holdings Ltd.