HUB submits draft registration statement for proposed initial public offering

Insurance broker Hub International Holdings announced that it has confidentially submitted a draft registration statement on Form S-1 with the U.S. Securities and Exchange Commission relating to the proposed initial public offering of its common stock. The timing, number of shares of common stock to be offered and the price range for the proposed offering have not yet been determined.

HUB expects to use the proceeds from the offering for general corporate purposes, which may include the repayment of indebtedness.

Last year, HUB International entered into a definitive agreement for a minority common equity investment of approximately $1.6 billion, which valued the broker at $29 billion.