Bermuda-based Arch Capital Group is to make a public offering of 7,285,000 common shares.
Of the shares, the company will offer 4,425,000, while selling shareholders will offer the remaining 2,860,000 common shares, said Arch. This does not include the 1,092,750 common shares subject to the underwriters’ over-allotment option.
Arch said it would use the proceeds from the sale for general purposes, including contributions to the capital of its wholly-owned insurance and reinsurance subsidiaries to support their underwriting activities.
It will not receive any of the net proceeds from the sale of the common shares owned by shareholders, said Arch.
