London-listed insurer Hiscox has raised almost £53m in new capital, to take advantage of strong insurance market conditions.
The Lloyd's insurer first announced its intention to raise £54.2m through a share issue, in late November.
It said that its open offer of 44,461,435 new ordinary shares, at 126p per share, closed at 1500 GMT yesterday.
Over 94% of the shares were taken up. The company said it expected the remaining 5.9% to be taken up by investors "pursuant to the Underwriting Agreement".
Dealing in the new ordinary shares is expected to start at 0800 GMT on 18 December 2001.
Hiscox's share price closed unchanged at 152p on 13 December 2001.
