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Validus IPO raises $314 million


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.