Aspen Insurance Holdings Limited Announces Exercise of Over-Allotment Option
16 December 2003 - 1:18AM
PR Newswire (US)
Aspen Insurance Holdings Limited Announces Exercise of
Over-Allotment Option HAMILTON, Bermuda, Dec. 15
/PRNewswire-FirstCall/ -- Aspen Insurance Holdings Limited today
announced that the underwriters of its previously announced initial
public offering of ordinary shares have exercised in full their
over-allotment option to purchase an additional 1,578,600 shares.
This completes the Company's ordinary share offering whereby a
total of 12,102,600 shares were sold with net proceeds to the
Company of approximately $245.5 million. The Company intends to use
the proceeds from the offering to provide initial or additional
capital to its subsidiaries, to repay a portion of the outstanding
debt under its revolving credit facilities and for other general
corporate purposes. Following the offering and the exercise of the
over-allotment option, and upon the issuance of 152,583 ordinary
shares due to the exercise of 440,144 options by the Names' Trustee
on a cash and cashless basis, the Company will have 69,179,303
shares outstanding. Credit Suisse First Boston and Goldman, Sachs
& Co. acted as joint book-running managers for the offering. A
copy of the prospectus relating to the offering may be obtained at
http://www.sec.gov/ or from Credit Suisse First Boston at
Prospectus Department, 11 Madison Avenue, New York, N.Y. 10010, or
by phone at (212) 325-2580 and Goldman, Sachs & Co. at
Prospectus Department, 85 Broad Street, New York, N.Y. 10004, or by
phone at (212) 902-1171. A registration statement relating to these
securities has been filed with the U.S. Securities and Exchange
Commission and was declared effective on December 3, 2003. This
press release shall not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of
these securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such jurisdiction.
Any offer or sale will be made only by means of the written
prospectus forming a part of the effective registration statement.
About Aspen Insurance Holdings Limited Aspen Insurance Holdings
Limited was established in June 2002. Aspen is a Bermudian holding
company that provides property and casualty reinsurance in the
global market, property and liability insurance principally in the
United Kingdom and surplus lines insurance in the United States.
Aspen's operations are conducted through its wholly-owned
subsidiaries located in London, Bermuda and the United States:
Aspen Insurance UK Limited, Aspen Insurance Limited and Aspen
Specialty Insurance Company. Aspen's reinsurance segment consists
of property reinsurance, casualty reinsurance and specialty
reinsurance lines of business. Aspen's insurance segment consists
of commercial property insurance and commercial liability insurance
lines of business. Aspen's principal existing shareholders include
The Blackstone Group, Candover Partners Limited, Wellington
Underwriting plc and Credit Suisse First Boston Private Equity.
This press release contains, and Aspen may from time to time make,
written or oral "forward-looking statements" within the meaning of
the U.S. federal securities laws. All forward-looking statements
rely on a number of assumptions concerning future events and are
subject to a number of uncertainties and other factors, many of
which are outside of Aspen's control that could cause actual
results to differ materially from such statements. For a detailed
description of these uncertainties and other factors that could
cause the actual results to differ, please see the "Risk Factors"
section in Aspen's Registration Statement on Form F-1 with respect
to the ordinary shares, filed with the U.S. Securities and Exchange
Commission. DATASOURCE: Aspen Insurance Holdings Limited CONTACT:
Carina Thate or Erin Moore, both of The Abernathy MacGregor Group,
+1-212-371-5999; or U.K. - Suzanne Bartch or Brian Hudspith, both
of The Maitland Consultancy, +44-20-7379-5151; or Investors -
Julian Cusack of Aspen Insurance Holdings Limited, +1-441-295-8201
Copyright
Aspen Insurance (NYSE:AHL)
Historical Stock Chart
From Sep 2024 to Oct 2024
Aspen Insurance (NYSE:AHL)
Historical Stock Chart
From Oct 2023 to Oct 2024
Real-Time news about Aspen Insurance Holdings Limited Ordinary Shares (New York Stock Exchange): 0 recent articles
More Aspen Insurance Hlgds Ltd News Articles