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The Midvale, Utah-based company's selling shareholders are seeking up to $700 million by offering 35 million shares priced between $18 and $20 apiece. For live updates on US Markets, click here Despite a strong backlog of companies preparing to go public, the fall IPO season has started more slowly than a year ago as volatility due to rising oil prices and inflation weighs on deal activity. Within the insurance sector, however, the pipeline remains strong with many of the recent insurance IPOs having performed relatively well in the aftermarket. "I think part of that reflects the operating environment for the insurance industry. Recurring revenue and relatively resilient demand are attractive characteristics in the current volatile market," said IPOX Vice President Kat Liu. Melbourne, Florida-based Orion180 Insurance launched its roadshow last week seeking to raise up to $340 million. Founded in 2018 and led by industry veteran John Chu, Bamboo focuses on the residential property market, providing homeowners' insurance and related products. The company operates as a managing general underwriter (MGU), meaning it underwrites and distributes policies on behalf of insurance carriers that ultimately bear the claims risk. "The trade-off is that this creates a different type of risk. The business becomes more dependent on its relationships with insurance carriers and other capacity providers," Liu said. White Mountains Insurance, which was a major shareholder in the firm, sold a majority stake to European private equity firm CVC last year, valuing the company at $1.75 billion. It intends to list on the New York Stock Exchange under the symbol "BMB". J.P. Morgan, Morgan Stanley, Deutsche Bank Securities, Evercore ISI and Wells Fargo Securities, among others, are serving as underwriters for the offering. (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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