Flood insurer Neptune launches US IPO

Neptune Insurance Holdings has launched its US initial public offering (IPO) with the intention of raising up to $368.4m. The IPO is expected to be priced between $18 and $20 per share by offering 18.42 million shares. The insurer is seeking a valuation of up to $2.76bn in the offering, reported Reuters. Earlier this month, the company filed a registration statement with the US Securities and Exchange Commission to list on the New York Stock Exchange (NYSE) under the ticker symbol 'NP'. The selling sec ...