Latest news with #AspenInsurance
Wall Street Journal
2 hours ago
- Business
- Wall Street Journal
IPO Market Shows Signs of Renewed Vigor
The market for initial public offerings seems to be improving after the stock selloff linked to tariff concerns in early April. Shares in Voyager Technologies rose sharply in their debut on the New York Stock Exchange on Tuesday. Other recent signs of success include a blockbuster debut for crypto from Circle Internet Group and upsized IPOs from Aspen Insurance and trading platform eToro Group. Read more:
Yahoo
08-05-2025
- Business
- Yahoo
NYSE Content Advisory: Pre-Market update + Aspen Insurance to debut on the NYSE
NEW YORK, May 8, 2025 /PRNewswire/ -- The New York Stock Exchange (NYSE) provides a daily pre-market update directly from the NYSE Trading Floor. Access today's NYSE Pre-market update for market insights before trading begins. Kristen Scholer delivers the pre-market update on May 8th President Donald Trump is expected to unveil a trade pact today with the U.K. that would reduce the impact of some tariffs. The President announced a 10:00 AM ET press conference this morning in the Oval Office on Truth Social. Federal Reserve Chair Jerome Powell noted increased uncertainty when he spoke to reporters yesterday following the latest interest rate decision. The central bank kept borrowing costs unchanged. Aspen Insurance (NYSE: AHL) is set to debut on the NYSE today. It priced its upsized offering at $30 a share, which was within its target range. Aspen Insurance is a Bermuda based global provider of specialty insurance and reinsurance. Opening BellAspen Insurance Holdings Limited (NYSE: AHL) celebrates its listing on the NYSE Closing BellBradesco BBI (NYSE: BBD) celebrates its annual NYSE visit with top clients from Brazil Watch NYSE TV Live every weekday 9:00-10:00am ET View original content to download multimedia: SOURCE New York Stock Exchange Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
08-05-2025
- Business
- Yahoo
Aspen Insurance (AHL) Raises $397.5 Million in NYSE Debut
Aspen Insurance (AHL, Financials), owned by Apollo Global Management (APO, Financials), returned to public markets Wednesday, raising $397.5 million through a New York Stock Exchange offering. The specialty insurer sold 13.25 million shares at $30 each, pricing within its $29 to $31 range. The deal values Aspen at approximately $2.76 billion ahead of its NYSE trading debut under the ticker symbol AHL. Founded in 2002, Aspen underwrites specialty insurance and reinsurance globally. It first went public in 2003 on the NYSE and added a listing on the Bermuda Stock Exchange in 2004. Apollo acquired the company in 2019 for $2.6 billion and will remain its controlling shareholder after the IPO. The offering comes amid economic uncertainty linked to U.S. President Donald Trump's trade policy. However, improving sentiment driven by easing tensions has helped stabilize the IPO environment. Goldman Sachs, Citigroup, and Jefferies led the underwriting. Investors will be watching how Aspen performs in the open market and whether it can leverage the capital raise for global growth. Track Aspen's valuation metrics. See Apollo's recent portfolio moves. This article first appeared on GuruFocus. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Reuters
08-05-2025
- Business
- Reuters
Exclusive: Travel tech firm Navan hires banks for U.S. IPO, sources say
NEW YORK, May 8 (Reuters) - U.S. corporate travel and expense company Navan has hired underwriters for an initial public offering (IPO) in New York that could value it at more than $8 billion, according to people familiar with the matter. Navan has tapped a group of investment banks to work on a stock market flotation that could come as early as the fourth quarter this year, with Goldman Sachs (GS.N), opens new tab serving as the lead underwriter, the people said, cautioning that the plans could change depending on market conditions. They asked not to be named because the plans are confidential. Navan did not respond to a request for comment, Goldman Sachs declined to comment. Global IPO activity slowed sharply in April as companies from StubHub to Chime postponed listings amid market volatility triggered by U.S. President Donald Trump's aggressive tariff policy. Proceeds from IPOs globally totaled $6.86 billion in April, down from $14.25 billion during the same month last year, according to Dealogic. The launch of Navan's IPO process is the latest sign that the freeze caused by the tariff uncertainty may be starting to thaw. Apollo-backed Aspen Insurance is slated to list this week, while retail trading platform eToro — which previously delayed its offering — is now expected to go public next week. Navan, founded in 2015 as TripActions, began as a corporate travel management platform aiming to streamline services offered by traditional players such as American Express, and SAP Concur. The Palo Alto, California based company later expanded into corporate payments and expense management, offering tools that link credit cards to a centralized platform and automate expense reporting. Its clients include Zoom Communications Inc (ZM.O), opens new tab and Lyft Inc(LYFT.O), opens new tab, according to its website. Navan is backed by Andreessen Horowitz, Coatue, Goldman Sachs, and Lightspeed, among other investors. It raised $304 million in equity and structured debt financing in 2022 and was valued at $9.2 billion at the time, according to the company.
Reuters
08-05-2025
- Business
- Reuters
Apollo-backed Aspen Insurance valued at $3 billion as shares jump in NYSE return
May 8 (Reuters) - Shares of Aspen Insurance (AHL.N), opens new tab rose 10.8% above the offer price in their New York Stock Exchange return on Thursday, valuing the Bermuda-based specialty insurer at $3.05 billion. Its shares opened at $33.25 apiece, compared with the offer price of $30. Parent Apollo Global (APO.N), opens new tab raised $397.5 million by selling 13.25 million shares, 20.5% more than initially offered. Aspen is the biggest U.S. insurance listing since Corebridge Financial's (CRBG.N), opens new tab $1.68 billion IPO in 2022, according to Dealogic data.
