Bermuda-based AXIS Capital Holdings Limited announced that it has closed the previously announced public offering of 6,800,000 common shares at $29.42 per share, raising aggregate net proceeds of approximately $200 million.
“Citigroup Corporate and Investment Banking purchased the common shares from AXIS Capital and subsequently reoffered the common shares to public investors,” said the bulletin. “The common shares were offered under AXIS Capital’s Form S-3 shelf registration statement, which was declared effective on October 11, 2005.
AXIS indicated that it “expects to use the proceeds from the sale of its common shares for general corporate purposes, primarily to enhance the funding of its insurance and reinsurance operating subsidiaries.”
Was this article valuable?
Here are more articles you may enjoy.
Florida’s Commercial Clearinghouse Bill Stirring Up Concerns for Brokers, Regulators 
Insurance Broker Stocks Sink as AI App Sparks Disruption Fears 
US Appeals Court Rejects Challenge to Trump’s Efforts to Ban DEI 
Q4 Global Commercial Insurance Rates Drop 4%, in 6th Quarterly Decline: Marsh 
