WASHINGTON (dpa-AFX) - Homeowners' insurer Bamboo Insurance Services, Inc. announced on Monday that it has launched the roadshow for its proposed initial public offering of 35 million Class A shares, all to be sold by existing investors CVC Capital Partners and White Mountains Insurance Group.
The IPO price is expected to be between $18 and $20 per share. Bamboo has applied to list its stock on the New York Stock Exchange under the ticker 'BMB.'
The selling shareholders plan to grant underwriters a 30-day option to purchase up to 5.25 million additional shares.
J.P. Morgan and Morgan Stanley are joint lead bookrunners, with Deutsche Bank Securities, Evercore ISI and Wells Fargo Securities as active bookrunners. Barclays, Goldman Sachs, Piper Sandler, CVC Capital Markets, Dowling & Partners and Wedbush Securities are also involved in the offering.
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