Catlin has announced an offer price of 350 pence per share for its initial public offering of common shares in advance of its flotation on the London Stock Exchange.
At the offer price, Catlin will have a market capitalisation of nearly $1bn (£539m), it said.
The total offer of $304m includes $200m of primary common shares and $104m of secondary common shares sold by existing shareholders.
Certain shareholders taking part in the global offering have granted an over-allotment option of a further $46m. Following the global offering, 31% of the company's share capital will be held by new institutional investors (35%, assuming exercise of the entire over-allotment option), said the company.
Group chairman Sir Graham Hearne said: “Catlin received an excellent response from the institutions worldwide that the management team met during the two week roadshow and book-building process.
“With the conclusion of the offering, we now look to the future with confidence as we continue to aim to increase value for our investors, both existing and new.”
Goldman Sachs International, JPMorgan and UBS Investment Bank are acting as joint global co-ordinators, joint bookrunners, joint sponsors and joint brokers to Catlin in connection with the IPO.
Cazenove is co-broker to the company and a co-lead manager. The other co-lead managers of the global offering are ABN AMRO Rothschild, Citigroup Capital Markets and Fox-Pitt, Kelton.
