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Ironshore files for IPO

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Ironshore files for IPO

Ironshore Inc.has filed for an IPO, about a month after its parent company, Chinese conglomerateFosun International Holdings Ltd.,sought approval from theHong Kong stock exchange for spinning off the Bermuda-based insurer.

The registration statement does not state how many shares willbe offered, or at what price. A proposed maximum aggregate offering price of $100million was estimated solely for calculating the registration fee.Bank of America Merrill Lynch, Citigroup, J.P. Morgan and UBS Investment Bank arejoint book-running managers of the offering.

Fosun currently owns 100% of Ironshore's shares and will continueto own more than 50% of the shares after the offering, making Ironshore a controlledpublic company, the filing states. As the selling shareholder, Fosun will receiveall proceeds from the offering.

In April, Fosun began pursuing a full sale or IPO of Ironshore after efforts to sell partof the company were unsuccessful.