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The Melbourne, Florida-based insurer sold 20 million shares at $12 each, below its indicated price range of $15 to $17. The IPO comes as the U.S. equity market's fall issuance calendar begins to gain momentum despite early macroeconomic headwinds. Several insurance companies and other high-profile candidates are preparing to enter the public markets, potentially providing a boost to new-issue activity. Read more: Global Market Today: Asian stocks, bonds gain as oil extends decline CVC-backed Bamboo Insurance launched its roadshow this week, seeking to raise as much as $700 million. Hub International, backed by Hellman & Friedman, confidentially filed for an IPO in June. Founded in 2018 by Kenneth Gregg, Orion180 provides excess and surplus lines homeowners insurance across 14 U.S. states. Its key markets include Texas, California and Florida. Orion180 and Bamboo Insurance have highlighted relatively low loss ratios, which the companies attribute to their underwriting platforms, while both businesses have also recorded rapid growth, Reuters reported, citing Renaissance Capital research. Read more: BOJ raises interest rates to 31-year high in widely expected move However, investors have closely scrutinised insurance companies entering the public markets in recent years. Some insurers have faced pressure to demonstrate the sustainability of their underwriting performance and growth after going public. RBC Capital Markets, UBS Investment Bank and Raymond James are serving as lead book-running managers for Orion180's offering. The company is expected to begin trading on the Nasdaq on Friday under the ticker symbol "OIG." (Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of The Economic Times.) (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price
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