By Sheri Kasprzak
New York, Sept. 18 - Omega Underwriting Holdings plc priced a £35 million private placement as part of its expansion into the United States through subsidiary Omega US.
The offering includes up to 26,515,152 shares at 132p each.
Numis Securities plc and Cenkos Securities Ltd. are the placement agents.
The placement comes as the company plans its reorganization as New Omega, a Bermuda holding company. Once the reorganization is completed, the company will expand into the United States with subsidiary Omega US. The proceeds from the deal will be used to launch the subsidiary.
Located in London, Omega Underwriting is a holding company for insurance and reinsurance concerns.
| Issuer: | Omega Underwriting Holdings plc
|
| Issue: | Stock
|
| Amount: | £35 million
|
| Shares: | 26,515,152
|
| Price: | 132p
|
| Warrants: | No
|
| Placement agents: | Numis Securities Ltd., Cenkos Securities Ltd.
|
| Pricing date: | Sept. 18
|
| Stock symbol: | London: OUH
|
| Stock price: | 134p at close Sept. 15
|
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