Aspen announces launch of IPO

Aspen Insurance Holdings announced the launch of its initial public offering of 11,000,000 of its Class A ordinary shares, par value $0.001 per share, all of which will be sold by certain entities managed by affiliates of Apollo Global Management.

In connection with the offering, the selling shareholders have granted the underwriters a 30-day option to purchase up to an additional 1,650,000 ordinary shares.

The initial public offering price is expected to be between $29 and $31 per ordinary share, which would value the base offering between ~$319 million and ~$341 million.

The specialty insurer and reinsurer is seeking a valuation of up to $2.85 billion.

Aspen’s ordinary shares have been approved for listing, subject to official notice of issuance, under the ticker symbol “AHL” on the New York Stock Exchange.